--- title: "Flipkart, PhonePe Complete Separation, to Continue Operation Under Walmart" description: "Flipkart Group purchased PhonePe in 2016." author: "Muskan Singh" published: 2022-12-24 canonical: https://www.mindstick.com/news/2631/flipkart-phonepe-complete-separation-to-continue-operation-under-walmart category: "android apps" tags: ["apps", "internet", "shopping"] reading_time: 2 minutes --- # Flipkart, PhonePe Complete Separation, to Continue Operation Under Walmart - Upwards of 400 million Indians are reportedly users of Flipkart and PhonePe. - Walmart will continue to have a majority stake in both company organisations. - More than 35 million offline businesses have been effectively digitalized by PhonePe. \ In a joint statement on Friday, **Flipkart** and PhonePe announced that their split was complete and that both companies would continue to function under the US-based retailer Walmart. In 2016, Flipkart Group purchased PhonePe. 'As part of this [transaction](https://www.mindstick.com/blog/175/transactions-in-database), **existing shareholders of Flipkart Singapore and PhonePe Singapore, backed by Walmart, directly purchased shares of PhonePe India.** As a result, PhonePe is now completely an Indian-domiciled corporation, completing a process that began earlier this year 'added the statement. The largest [shareholder](https://www.mindstick.com/news/1547/blackberry-trying-to-settle-shareholder-lawsuit-over-blackberry-10-to-avoid-trial) in both corporate organisations will continue to be Walmart. 'Both **Flipkart** and PhonePe are proudly made in India and have user bases of more than 400 million apiece. We are excited for the following stage of our [development as](https://yourviews.mindstick.com/view/84830/why-does-mexico-have-a-lower-growth-rate-and-development-as-compared-to-united-states-of-america) we invest in new companies such as [financing](https://www.mindstick.com/articles/12860/how-to-get-financing-for-salvage-title-cars), [insurance](https://www.mindstick.com/articles/12912/life-insurance-corporation-of-india-customer-services), and wealth [management](https://www.mindstick.com/articles/23490/tips-for-better-cash-flow-management) while also enabling the following expansion of UPI payments in India. This will assist forward our mission of bringing [financial inclusion](https://answers.mindstick.com/qa/38495/which-authority-recently-issued-in-principle-approval-to-11-applicants-to-set-up-payments-banks-that-will-widen-the-reach-of-banking-services-and-push-the-government-s-goal-of-financial-inclusion) to billions of Indians 'Sameer Nigam, the CEO and founder of PhonePe, stated. PhonePe moved its headquarters from Singapore to India this year. According to the statement, **PhonePe has successfully digitalized more than 35 million offline businesses located in tier 2, tier 3, tier 4, [and beyond](https://www.mindstick.com/articles/336489/testing-strategies-in-java-unit-testing-integration-testing-and-beyond) since its launch**, covering 99 percent of PIN codes nationwide. 'We are happy to witness PhonePe develop and prosper as a stand-alone prosperous business. We have faith that PhonePe will expand and realise its goal of enabling financial inclusion for millions of Indians 'Kalyan Krishnamurthy, CEO of the Flipkart Group, stated. --- Original Source: https://www.mindstick.com/news/2631/flipkart-phonepe-complete-separation-to-continue-operation-under-walmart Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.