Flipkart announced to make PhonePe a separate entity, know how it will benefit digital payment company

By Anuj Kumar -
Flipkart announced to make PhonePe a separate entity, know how it will benefit digital payment company

Flipkart Announces Partial Spin-off of PhonePe Know How Digital Payment Company will be Benefited. (Photo credit: PhonePe)

Flipkart, the leading e-commerce company, announced Thursday to make PhonePe a partially separate entity. However, a majority stake in PhonePe will remain with Flipkart and the two companies will continue to collaborate with each other as before. A statement issued by the company said that given the growth momentum and the potential for the significant growth of PhonePe in the coming years, Flipkart's board has decided to establish PhonePe as a partially separate entity. Is an appropriate time because it allows the company to raise capital separately to meet its long-term goals over the next three to four years.

PhonePe has recently raised $ 700 million (about Rs 5,172 crore). This brings the company's total valuation to $ 5.5 billion. The company has raised these funds through existing investors of Walmart-led Flipkart.

In October 2020, the number of registered users of PhonePe crossed 25 crores. At the same time, the number of monthly registered users crossed 10 million. Also, the number of digital transactions was around one billion.

Sameer Nigam, Founder, and CEO of PhonePe said, "Flipkart and PhonePe have been one of the major Indian digital platforms. Both have 25–25 million users. With the creation of a partially separate entity, PhonePe will get long-term dedicated capital to fulfill the dream of financial inclusion of one billion Indians. ''

Kalyan Krishnamurthy, CEO of Flipkart Group, said the move would help PhonePe expand its prospects as it would usher in a new phase of growth. This will see the value creation for Flipkart and its shareholders.

PhonePe was founded by Rahul Chari and Bergin Engineer, a former Flipkart employees corporation. However, in 2016 Flipkart acquired PhonePe. Subsequently, in 2018, Walmart acquired Flipkart. PhonePe was also involved in this deal.

Popular posts from this blog

Flipkart Customer Care Number, eMail, Toll-free Number and Address

By Anuj Kumar -
Image
Need to Contact Flipkart Customer Care? Then Get the Contact Details from Here. Welcome to the  Flipkart Customer Care  website, an unofficial blog where you will find all the contact details of  Flipkart  customer care number and more. Check Toll-Free Number, eMail ID, social media links, and Address of Flipkart Customer Support Team. If you are a person who enjoys Flipkart online shopping then you should bookmark this website for future help. You can contact Flipkart customer care 24x7 365 days via the following methods. There are chances that you might need to replace your purchased product or ask for a refund if it is under warranty. There might also be many other reasons due to which you might feel the need to contact Flipkart customer services. In that case, you need to know some of the details such as phone numbers, the address of head office, email ids, etc. Thus here we are, with the list of all the important details which you might need to ...
Read more

Flinternship: Flipkart Internship 2021 for Student a Direct Job in Flipkart

By Anuj Kumar -
Image
Flipkart has an internship program called Flinternship for on-campus students for a direct job in flipkart. You should take this opportunity if your campus gets visited by Flipkart. If you’re interested here is how to signup for Flipkart Internship 2021? The youth of today are the ones that hold the future. So Flipkart has launched a program to help mold the young minds and ensure the promise of a brighter tomorrow. This program is called Flipkart internship or in the millennial’s term, the Flinternship. (Photo credit: Flipkart Careers) Table of contents What is Flipkart Internship? How to apply for Flinternship? The Benefits of Flinternship Highlights Challenging Environment Real Mentors Fun while working Flinternship: Student Flipkart Internship - FAQ Conclusion What is Flipkart Internship? The Flipkart internship aka Flinternship is an internship program to help out students get a positive experience, learn the present trade, and get a general outlo...
Read more

Flipkart Big Billion Day 2020: Prepare For Sale Madness (Don't Miss!)

By Anuj Kumar -
Image
Flipkart Big Billion Days 2020 And Other Flipkart Sale Events Are About to Start. Check the Dates and Details from here. The Flipkart Big Billion Day 2020 may not be here yet but it does not mean that there is no reason to get excited about this giant event. Observe that this occasion is a sitewide deal so pretty much, some of your most favorite items, if not all, will be discounted in a very generous way. Talking about Big Billion Day 2020, What's more, we expected from this most anticipated event? (Photo credit: Flipkart) I without a doubt am expecting at least a 30% discount or more for my most favorite electronic gadgets. Also, since Big Billion Day is up this coming 17th-22nd October 2020, probably the greatest names in smartphone and gadgets are going to release their top of the line products from midrange to flagship areas. The Big Billion Days India’s biggest sale, the Big Billion Days, is back! Your favorite shopping festival will kick start from the 17th-22...
Read more

Flipkart Big Saving Days Sale 2020: Getting Huge Discounts on these Smartphones

By Anuj Kumar -
Image
In Flipkart's Big Saving Days Sale , users can get great discounts and attractive offers on many smartphones. For Flipkart Plus members, this sale has gone live from today and can be availed till December 22. E-commerce website Flipkart recently announced its Big Saving Days Sale . Which will start from December 18 ie tomorrow. But for Flipkart Plus members, this sale has been made live from today. If you are a Flipkart Plus member, then you can first take advantage of the offers and discounts available in the cell. In this cell, you will be available at huge discounts on smartphones of many brands including Samsung, Realme, Apple, Poco, and Oppo. Here we are going to tell you about those Poco smartphones that you can buy at a very low price under Flipkart Big Saving Days Sale . About Flipkart Big Saving Days Sale, Poco has announced on its official Twitter account that many popular devices of the company are being found in this cell at a very low price. This includes Poco X3, Poc...
Read more

Infinix Smart HD 2021 will be available for the flash sale from Now on Flipkart

By Anuj Kumar -
Image
Infinix Smart HD 2021 smartphone will be available for flash sale from January 6. Buying this phone will get great deals and attractive offers. Let's know about the specification and price of Infinix Smart HD 2021. (Photo credit: Infinix) Infinix Smart HD 2021 flash sale Start on Flipkart, Know Full Phone Specifications and Price in India Infinix Smart HD 2021, the latest smartphone of Infinix, will be made available for flash sale today i.e. January 6, 2021. The sale of this smartphone will start at 12 noon on the shopping website Flipkart and customers will get great offers in it. Talking about the key specifications, the Smart HD 2021 has a 5000mAh battery and HD display. Infinix Smart HD 2021 specification Infinix Smart HD 2021 has a 6.1-inch IPS HD + display. Whose screen resolution are 720x1560 pixels. It uses Notch and 500nits brightness for selfies. This smartphone works on a quad-core Mediatek Helio A20 processor. For this, it has the feature of a rear-mounted fingerprint ...
Read more

Flipkart App Download for Android & iPhone/iPad (Official Latest Version)

By Anuj Kumar -
Image
Get the award-winning Flipkart app and shop online safely and conveniently. Did you know that the Flipkart app official version won the 2018 Google Play’s “Best App For Billions Experience” category? If that is not saying much about the Flipkart app, then we don’t know what is. On the detailed side of this app, the Flipkart App is seriously the best in its category. That is including all the people behind this app’s development. (Photo credit: Flipkart) The official Flipkart app is based and headquartered in Bangalore India. And it is as prestigious as the Flipkart brand right now, they too have started small before all of this fame and success. Currently, Flipkart is the biggest e-commerce store in India. And if Flipkart competes with other Asia’s e-commerce company, they could be standing at the top three most outstanding online markets presently. If you are here to download the official Flipkart app, then we have that covered for you. We have the latest Flipkart App that...
Read more

What Is The No Cost EMI By Flipkart?

By Anuj Kumar -
Image
All the things you need to know to take advantage of Flipkart's No Cost EMI and how to avail it when you next purchase an item via the Flipkart platform. Are you a Flipkart user? You must be because you are here right now trying to find out about Flipkart’s No Cost EMI. And since you are here, let us make it worth your valuable time. We will tell you the very definition of the Flipkart No Cost EMI . And if ever, how will you avail it when you next purchase a product. (Photo credit: Flipkart) Table of contents How does Flipkart No Cost EMI work? How to avail the No Cost EMI from Flipkart? Other Facts Flipkart No Cost EMI - FAQ Conclusion How does Flipkart No Cost EMI work? The No Cost EMI by Flipkart is a purchasing scheme that enables digital buyers that are using the Flipkart app or website to avail of expensive products. It is basically an installment plan that offers no extra charge. Initially, your Credit Card limit will be blocked for your full pu...
Read more

Infinix X1 Smart TV launched in the competition of Mi TV, know the price in India, Specifications, and Offers

By Anuj Kumar -
Image
Infinix X1 Smart Android TV first sale in India Infinix's 32-inch and 43-inch screen sizes, both smart TVs, will be made available for sale for the first time on e-commerce site Flipkart on 18 December 2020 at 12 noon. (Photo credit: Infinix) Infinix X1 Smart Android TV first sale in India: On behalf of the Infinix brand, two models of Android Smart TV in the Indian market have introduced 32 inch and 43-inch screen sizes. Both of these smart TVs will be made available for sale for the first time on the e-commerce site Flipkart at 12 noon today. Both Infinix smart TVs will compete with OnePlus Y, Mi TV 4A, Realme TV, and Motorola ZX2 in the Indian market. Infinix X1 Smart TV Price in India and offer The 32-inch model of Infinix is ​​priced at Rs 11,999. The same 43-inch model will come for Rs 19,999. TV will get a 10 percent maximum discount of Rs 1,500 on purchases made with an SBI credit card. 5% unlimited cashback will be offered on the same Flipkart Axis bank credit card purchas...
Read more

Flipkart Big Saving Days Sale Offers & Deals: 18 – 22 December 2020

By Anuj Kumar -
Image
Hop to check out Flipkart Big Saving Days sales offers, discounts, and deals on 18th, 19th, 20th, 21st, and 22nd December 2020! If you don't see them, you're going to regret it! After the grand success of its action-packed Big Diwali Sale in November 2020, Flipkart is back in December 2020 with Mind-Blowing Big Saving Sale from 18 to 22 December 2020. Especially for Flipkart lovers, this fun-filled seasonal discount sale is set to turn red for the upcoming festive season. At Flipkart Big Saving Days Sale 2020 everyone will get a chance to buy and gift clothes, electronics, smartphones, fashion accessories, and various other products as per their heart's desire. So, get ready for the duration of the Flipkart Big Saving Days Sale offer, which starts on 18 December and extends till 22 December 2020. Here, you will often get great offers that promise to bring a lot of sparkles and smile to your life. just go for it! With the Flipkart Big Saving Days Sale right around the corner...
Read more

Flipkart SmartBuy: Everything You Need to Know

By Anuj Kumar -
Image
All the things you need to know about Flipkart Smartbuy and how it will affect your online shopping experience. If you are a fan of Flipkart , an online e-market that provides all types of products online, you must have heard of their Flipkart Smartbuy. you will choose Flipkart Smartbuy items If you want the highest quality of product with the lowest price tag available. For those of you who do not know yet about Flipkart’s private brand, then here is a brief introduction to it. (Photo credit: Flipkart) Table of contents The necessity of Flipkart Smartbuy Flipkart Smartbuy Features Quality You Can Trust Features That You Want Prices and Value Types of Products Flipkart SmartBuy - FAQ Conclusion The necessity of Flipkart Smartbuy According to Statista, there have been 1.66 billion digital buyers worldwide and with estimation to rise to 1.79 billion this 2018. And by the year 2021, there will be more than 2 billion digital buyers. But did you know that 18.5% (...
Read more