Flipkart is an Indian e-commerce company based in Bengaluru. It is Founded by Sachin Bansal and Binny Bansal in 2007. The company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.
Flipkart held a 39.5% market share of India’s e-commerce industry. Flipkart is significantly dominant in the sale of apparel 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, US based retail chain Walmart announced its intent to acquire a 77% controlling stake in Flipkart for $16 billion USD.
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