Infibeam in July 2015. Infibeam was founded in 2007 by Vishal Mehta, a Cornell and MIT Sloan alumnus. After working for Dell and Amazon.com in the US for five years, Mehta returned to India in 2007 and started Infibeam along with a group of Flipkart employees. He funded the company by selling his personal assets rather than opting for external equity funding. The company was started with an initial capital of 100-150 million. Infibeam.com started as an automobile portal in 2007, but later turned into an online retailer. In 2010, Infibeam launched 'Pi', India's first e-book reader. In 2008, Infibeam acquired
Zavvi (retailer) had entered into administration, rival HMV's share prices rose, as it left HMV as the only major high street retailer offering the same products. Similarly, the online retailer Play.com announced that its profit had risen by 24% over the Christmas trading period and despite the economic downturn, sales of entertainment products overall in the industry rose by 0.7% in the fourth quarter in comparison to sales of the same period in 2007. On 13 January 2009, the video games retailer Game attributed the rise in profits to the loss of competition of Zavvi and Woolworths. Chief executive Lisa Morgan said