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Flipkart was founded on 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for, and left to create their new company incorporated in October 2007 as Flipkart Online Services Pvt. Ltd.[9] .[10][11][12]Flipkart now employs more than 33,000 people.[13] In October and November 2011, Flipkart acquired the websites[14] and[15] Later, in February 2012, the company revealed its new Flyte Digital Music Store.[16] Flyte, a legal music download service in the vein of iTunes and, offered DRM-free MP3 downloads. But it was shut down on 17 June 2013 as paid song downloads did not get popular in India due to the advent of free music streaming sites.[17][18][19] After its 2014 Big Billion Sale, Flipkart carried out a second Big Billion Sale.[20] Where it is reported that they saw a business turnover of $300 million in gross merchandise volume.[21] In 2015, Flipkart bought a minority stake in navigation and route optimization startup MapmyIndia to help improve its delivery using Map my India assets.