Happy Dussehra - DUSSEHRA24

Join Here

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
ebook store

About Me

Ramandeep Singh

Ramandeep Singh - Educator

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu