Walmart Acquired Company Flipkart is an E-commerce Marketplace

Walmart Acquired Company ‘Flipkart’ is an E-commerce Marketplace that Offers Over 30 Million Products Across 70+ Categories

| < 1 minute read

Founded: October 2007, Bengaluru, India

CEO: Kalyan Krishnamurthy (Jan 2017–)

Subsidiaries: Myntra, PhonePe, Ekart, Mallers, Inc., MORE

 Parent organization: Walmart

 Founders: Sachin Bansal, Binny Bansal


Flipkart initially began as an online bookstore before diversifying to consumer electronics, fashion, home essentials & groceries, and lifestyle products. Flipkart also owns Myntra, PhonePe, Ekart, and 2GUD. It has received funding from Tiger Global, Naspers, Accel Partners, Softbank, and Iconiq Capital. Softbank has since then sold its stake to Walmart.

Flipkart, currently 33,000 people strong, has 75 million registered users clocking over 10 million daily visits. Flipkart’s technology has enabled it to deliver 8 million shipments per month – and this number is only growing.

Flipkart has a dominant position in the apparel segment, bolstered by its acquisition of Myntra, and was described as being “neck and neck” with Amazon in the sale of electronics and mobile phones. Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface.

In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for the US $16 billion, valuing Flipkart at around $20 billion.

SHARE THIS POST
Posted in

About the author

Related Posts

Get Updates To Your Inbox

Startup Of The Week – Nutty Gritties

Nutty Gritties is a category creator and leader in trail mixes and flavored nuts in India. Along with our strong online presence, we are also available in over 2000 touch-points offline, including retail, modern trade, vending machines, corporates, railways, and airlines. The main expectation from this position is to amplify the digital presence.