Stealth • 1d
A few days ago, Flipkart introduced its new UPI service, Supermoney. ⏮️The interesting part: Let's go back a few years - Dec, 2015: 3 former Flipkart exec's start PhonePe. Apr, 2016: Flipkart acquires PhonePe for $20 M. Aug, 2018: Walmart acquires a 77% stake in Flipkart for $16 B, at a valuation of ~$20 B Dec, 2020: Walmart leads a $700 M direct investment in PhonePe and flipkart announces the spin-off of PhonePe Dec, 2022: Flipkart completes the transfer of its full stake in PhonePe to parent Walmart Returning to the present: Flipkart launches Supermoney UPI. UPI transactions clocked a record last month processing 14.04 B transactions worth ₹20.45 trillion. 💸Flipkart's UPI strategy seems to mirror the initial approach of Google Pay, focusing on offering real cashback rewards. The market share of UPI apps is currently at -> - PhonePe, 48.9% - GooglePay, 37.7% - Paytm, 8.3% - Cred, Amazon Pay, and others at 5.1% 💡It will be interesting to see how things unfold, especially with NPCI's 30% market share cap deadline approaching in December 2024. 🧠I couldn't find good examples of companies with the same parent targeting exactly the same market. Let me know if you know of any!
Informative👍
It's akin to Dunzo and Grofers, both under the parent company Reliance, targeting the same market of hyperlocal delivery services in India.
As a consumer, don't want to download another app, when the daily limit of 30% will cross, people will shift to another app for that day. Let's see how Amazon and Flipkart makes it jn future.
That’s called real analysis
Heyyyy interesting analysis.Lot of effort went into it.great
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