Flipkart returns that are purely as a result of consumer fraud. Flipkart Flipkart Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal in 2007, the company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products. The service competes primarily with Amazon's Indian subsidiary, and the domestic rival Snapdeal. , Flipkart held a 39.5% market share of India's e-commerce industry. Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong.com), and
Flipkart Sofina SA, and Vulcan Inc., with participation from existing investor Tiger Global. On 26 May 2014, Flipkart announced that it had raised US$210 million from Yuri Milner's DST Global and its existing investors Tiger Global, Naspers and Iconiq Capital. In early July 2014, it was also highly speculated that Flipkart was in negotiations to raise at least $500 million, for a likely listing in the US for 2016. On 29 July 2014, Flipkart announced that it raised US$1 billion from Tiger Global Management LLC, Accel Partners, and Morgan Stanley Investment Management, and a new investor, Singapore sovereign-wealth fund GIC. In