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PhonePe completes separation from Flipkart

Published on December 24, 2022
Current Context: PhonePe which is acquired by Walmart-owned Flipkart completes its separation from the parent company.
PhonePe completes separation from Flipkart
  • PhonePe was acquired by Flipkart in 2016.
  • PhonePe changes its domicile from Singapore to India in 2022.
  • It has a customer base of nearly 400 million.
  • Walmart acquired Flipkart in 2018, so both Flipkart and PhonePe came under Walmart.
  • Now, PhonePe has completed its separation from Flipkart and become a fully India-domiciled company.
  • As of now, Walmart has the majority of shares in both Flipkart and PhonePe.
  • So both will operate under the US-based retail giant Walmart.
  • Static Part:
    • Founder and Chief Executive Officer (CEO) of PhonePe India – Sameer Nigam
    • Headquarters – Mumbai, Maharashtra

Question:

Q.1 PhonePe was acquired by Flipkart in which year?
a. 2015
b. 2016
c. 2017
d. 2018
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