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.
ā®ļøThe 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
Can Tiny Walmart survive against the big guys? š¤
This was the headline in a newspaper in July, 1962.
But now, who's the big guy? šŖ
(P.S: What do you think made Walmart what it is today?)