Flipkart

Flipkart started in 2007 as an online bookstore.⁠[1]

Its founders, Sachin Bansal and Binny Bansal, share a surname but are not related; they pooled $6,000 of their savings to start it.⁠[2]

Accel invested $800,000 in seed capital in Flipkart; its involvement with the company began in 2008.⁠[3]

In 2016 Flipkart acquired the mobile payments company PhonePe, whose app went live the same year.⁠[4]

Kalyan Krishnamurthy became Flipkart’s CEO in January 2017. In April that year Flipkart raised $1.4 billion from eBayeBayeBay Inc. is an online marketplace company headquartered in San Jose, California, United States, founded in 1995 by Pierre Omidyar; it started out with person-to-person online auctions and listed on Nasdaq in 1998. As of the end of 2025, it had 135 million active buyers, and its platform’s gross merchandise volume in 2025 was nearly $80 billion.Open the full entry, Microsoft and Tencent at an $11.6 billion valuation, below the $15 billion it had once reached.⁠[5]

That year Flipkart also acquired eBay India.⁠[3]

On May 9, 2018, Walmart signed definitive agreements to pay about $16 billion for an initial stake of about 77% in Flipkart, including $2 billion of new equity. Flipkart’s gross merchandise value for the fiscal year to March 31 was $7.5 billion.⁠[6]

The deal closed on August 18, 2018, leaving Walmart with about 77% of Flipkart; Tencent and Tiger Global kept board seats and the existing management continued to run the business. The group then comprised Flipkart, Myntra, Jabong and PhonePe.⁠[7]

In November 2018 Group CEO Binny Bansal resigned after an investigation into an allegation of “serious personal misconduct.”⁠[8]

In 2020 the Competition Commission of India (CCI) opened an investigation, prompted by a group of brick-and-mortar retailers, into whether Amazon and Flipkart favoured certain sellers and prioritised some listings. In September 2024 its investigation reports found the alleged anti-competitive practices to be true; the reports are not a final ruling, and Flipkart did not respond to a request for comment.⁠[9]

In late 2022 Flipkart separated from PhonePe, with no immediate plans then to return to mobile payments.⁠[10]

In the first half of 2023 Walmart spent $3.5 billion buying Flipkart shares from holders including Tiger Global, Accel and Binny Bansal, lifting its ownership to about 80%.⁠[11]

The October 2023 Big Billion Days was the tenth edition, with more than 1.4 million sellers taking part.⁠[12]

In May 2024 GoogleGoogleGoogle is an American technology company founded by Larry Page and Sergey Brin and incorporated in 1998. It became an Alphabet subsidiary in 2015. Its businesses include internet search, advertising, software platforms, cloud computing, and artificial intelligence.Open the full entry invested nearly $350 million in Flipkart at a $36 billion valuation, part of a nearly $1 billion round led by Walmart that began in 2023.⁠[13]

In June 2024 Flipkart began testing super.money, a payments app supporting UPI.⁠[10]

Lydia Jett, a former managing partner at SoftBankSoftBank GroupSoftBank Group (SoftBank Group Corp.) is an investment holding company headquartered in Tokyo, founded by Masayoshi Son in 1981. Starting out as a distributor of personal computer software, it moved into the internet, broadband and mobile communications, and has since become an investment group centered on AI-related assets such as Arm, the SoftBank Vision Funds and OpenAI.Open the full entry Investment Advisers, joined Flipkart’s board effective June 26, 2024.⁠[14]

In August 2024 Flipkart rolled out its quick-commerce service, Flipkart Minutes, in parts of Bengaluru, promising delivery in 10 to 15 minutes.⁠[15]

Flipkart’s board approved moving its headquarters back to India in April 2025; by September the restructuring had in-principle approval from a Singapore court, and several hearings had been held at India’s National Company Law Appellate Tribunal.⁠[16]

In March 2026 Flipkart received Indian government approval for its internal restructuring, which the company said completed the group’s redomiciliation to India; people familiar with the company said it was targeting an Indian listing in the fiscal year ending March 2027. Its gross merchandise value was about $30 billion in 2025, with more than 500 million customers and 1.6 million sellers.⁠[17]

In June 2026 Flipkart Minutes reached 1,000 micro-fulfilment centres across more than 130 cities.⁠[18]

In August 2026 people familiar with the matter put Flipkart Minutes at about 1.1 million to 1.2 million orders a day from about 1,020 to 1,050 micro-fulfilment centres, with a target of 1,500 by the end of 2026; the figures were unaudited and Flipkart did not comment.⁠[19]

In October 2026 Bengaluru-based Flipkart was testing a food-delivery service branded “Eat-in by Minutes” with more than 8,000 employees in the city, sourcing restaurants partly through the government-backed ONDC network; CEO Kalyan Krishnamurthy declined to give a timetable for an IPO.⁠[20]

Flipkart’s official group profile lists Flipkart, Myntra, Flipkart Wholesale, Cleartrip and super.money among its businesses, and gives figures of more than 500 million registered users, 1.4 million sellers and over 150 million products across more than 80 categories.⁠[1]

Flipkart: Official website: https://www.flipkart.com/ (opens in a new window)⁠[1]

Flipkart Stories: Official website: https://stories.flipkart.com/ (opens in a new window)⁠[1]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Official account: https://www.linkedin.com/company/flipkart (opens in a new window)⁠[1]

Walmart: Official website: https://corporate.walmart.com/ (opens in a new window)⁠[6]