Red Herring

THE BUSINESS OF TECHNOLOGY

  • Startups
  • Mobile
  • Enterprise
  • Consumer
  • Social
  • Events

Flipkart’s Payments Firm PhonePe in Partial Spin-out, Valued at $5.5bn

December 5, 2020

Indian e-commerce giant has partially spun-out its mobile payments brand PhonePe, selling a stake in the startup to Walmart.

The deal, which makes PhonePe $700 million in primary capital, boosts Bengaluru-based PhonePe’s value to $5.5bn, as the platform passes 200m users.

Flipkart, founded in 2007, has become a behemoth of the online shopping world. It currently has around 30,000 employees and receives over 300m visits per month. It is valued at $6.1bn, and has piled almost a billion dollars into 2015-founded PhonePe.

“As Flipkart commerce continues to grow strongly serving the needs of Indian customers, we are excited at the future prospects of the group,” said Kalyan Krishnamurthy, Flipkart CEO. “This move will help PhonePe maximize its potential as it moves to the next phase of its development, and it will also maximize value creation for Flipkart and our shareholders.”

  • 
  • 
  • 
  • 

Filed Under: Asia, Consumer, Enterprise, Finance, Global, Internet, Mobile, Software, Startups, Top Story

Related Articles

  • U.K. Introduces Bill Boosting Regulator Power to Curb Big Tech Competition Abuses
  • AI to Affect ‘Every Product of Every Company’ —Google’s Pichai 
  • Baidu Set to Launch New AI Bot Similar to ChatGPT – Report 

Widget Spacer

Top 100

The Red Herring Top 100 awards highlights the most exciting startups from Asia, Europe and the Americas.

Learn More

Upcoming Events

  • Top 100 Asia

  • Top 100 North America

  • Top 100 Europe

Widget Spacer

Guest Column

What is a Learning Management System?

Rouben David, of CourseForMe.com, outlines the features and benefits of

Widget Spacer

Subscribe

Subscribe now to get event news and updates delivered right to your inbox:

Widget Spacer

#DigitalHerring Tweet

My Tweets
  • About
  • Press & Media
  • Contact Us
Red Herring LinkedInRed Herring Facebook

Copyright © · Red Herring, Inc.

Copyright © 2025 · Red Herring Theme on Genesis Framework · WordPress · Log in