Myntra.com is an Indian online shopping retailer selling fashion and casual lifestyle products. The company is headquartered in Bangalore, Karnataka. On May 22, 2014, Flipkart acquired Myntra for US$300 million. Myntra was founded in February 2007 by Mukesh Bansal, Ashutosh Lawania, Imran Khan and Vineet Saxena.
Myntra has received venture capital from Tiger, Kalaari, Premki Investments, IDG and Accel Partners. From 2007 to December 2010, the company mainly sold personalized products online. Its products cover: T-shirts, mugs, greeting cards, wall calendars, key chains , diaries, etc. In 2010, the company’s product categories covered retail fashion and daily necessities.
Currently, Myntra.com offers nearly 50,000 products from over 600 well-known brands in India and internationally. In 2013, the company acquired Fitiquette, a virtual fitting room technology developer based in San Francisco. In November 2013, Bollywood star Hrithik Roshan exclusively launched his lifestyle clothing and casual wear brand HRX on the online shopping portal Myntra.com.
In October 2007, Myntra received venture capital funding from Accel Partners (formerly Erasmic Venture Capital Fund), Mumbai Angel and another angel investor, Sascha Dani. In November 2008, the company raised US$5 million in venture capital from NEA-IndoUS Ventures, IDG Ventures and Accel Partners. The company raised US$14 million in the second round of venture capital funding from Tiger Global, IDG Venture Capital and Indo-US Venture Capital.
At the end of 2011, Myntra.com raised US$20 million in the third round of venture capital funding from Tiger Global. The company launched its first TV advertising brand promotion in July 2011. In February 2014, the company raised $50 million in venture capital funding from Premki Investments and other private investors.
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