Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal, alumni of IIT Delhi who previously worked for Amazon. It began as an online book retailer and has since expanded into other product categories. Through word of mouth and focus on customer experience, it grew to become India's largest online retailer with millions of products and customers. It has raised over $1 billion in funding from investors and acquired other companies to further its leadership position in the Indian e-commerce market.