'<,'>
at the beginning of your command line represents the range that you have selected. It is also the range of the test to which the command you are about to enter will be entered.
For example, if I selected a text area in visual mode, and then wanted to replace all occurrences of the βstackβ with βoverflowβ, my command would look like this:
:'<,'>s/stack/overflow/g
Without visual mode, the same command must be executed by specifying a range of lines manually, for example:
:1,10s/helo/hello/g
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