Phonepe was acquired by Flipkart in 2016.
Later
In Dec 2022, PhonePe separated from Flipkart, but both companies are still owned by Walmart.
So, why need another UPI app?
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
Flipkart purchased Myntra in 2014.
Flipkart purchased Jabong via Myntra in 2016.
Walmart purchase Flipkart in 2018.
Flipkart killed Jabong in 2020.
Is it fair to purchase a company just to kill it?
_S
Case Study: PhonePe – India's UPI Leader
Founded in 2015, PhonePe dominates India's digital payments landscape.
Stats:
Users: 350M+ registered
Market Share: 40%+ of UPI transactions
Business Model: Transactions, financial services, advertising.
R
If you are a businessman or starting your own and your idea is truly exceptional you will get funding and the same is demonstrated by PhonePe
One of the best decisions of Indian startup history was when Flipkart bought Phonepe.
But why so ? Let me
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0 replies3 likes
Mahesh Jadyar
Stealth • 8m
Which is the Indian made app store?
PhonePe, owned by Walmart Inc., launches Indus Appstore, a new Android-based mobile application store in India to compete with Google's Play Store. The store offers over 200,000 apps and games in 12 Indian language
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4 replies10 likes
Mahendra Lochhab
Stealth • 6m
WHERE THE WORLD'S SMARTPHONES ARE MADE?
Share of global smartphone production by region. A growing percentage is gradually shifting from China to India.
2016 2022 2023
CHINA 74% 65% 63%
INDIA
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1 replies6 likes
Vaibhav Babruwan Shingde
Stealth • 6m
As you see in the picture , UPI is skyrocketing since 2016 to 2024 to approx . 8B transactions .
• companies like Phonepe,Google pay are dominating the market with atleast 80% market share , Paytm market share fall from 13 to 9%.
• Government will
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4 replies3 likes
Arcane
Stealth • 5m
ONE INTERESTING OBSERVATION SERIES
DAY #2
With the surge in digital payments, UPI has become the most popular payment method in India. However, it's also the most targeted by fraudsters. In 2022, UPI accounted for a staggering 55% of all fraud case
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10 replies10 likes
HigherLevelGames
Stealth • 6m
Game Changing Growths of India [ PART 3 ]
Flipkart was found in October 2007, in Bengaluru. They initially started by selling books and the initial investments were made by the families of the founders.
In 2012, Flipkart acquired Letsbuy, an online
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0 replies15 likes
Gyananjaya Behera
Stealth • 5m
UPI Transactions Jump 5% MoM In May To 1,404 Cr
Monthly Growth: UPI transactions rose 5% month-on-month in May to 14.04 billion, with transaction volume increasing 4.1% to INR 20.45 lakh crore.
Yearly Growth: Year-on-year, transaction count surged