Flipkart

Flipkart Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal(no relation) in 2007, the company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products. The service competes primarily with Amazon’s Indian subsidiary, and the domestic rival Snapdeal. As of 2017, Flipkart held a 39.5% market share […]

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Flipkart

Flipkart Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal(no relation) in 2007, the company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.

The service competes primarily with Amazon’s Indian subsidiary, and the domestic rival Snapdeal. As of 2017, Flipkart held a 39.5% market share of India’s e-commerce industry. Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong.com), 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(UPI).

In May 2018, U.S.-based retail chain Walmart announced its intent to acquire a 77% controlling stake in Flipkart for $16 billion USD, subject to regulatory approval. Walmart however is expecting to close the deal by the end of year 2018