PhonePe raises $200 mn from Walmart at $12 bn valuation
With this tranche, the company has raised $650 million from several global investors. It’s PhonePe’s third biggest funding this year alone.
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PhonePe lands $350 million in funding at $12 billion valuation
PhonePe plans to invest in new businesses, including insurance, wealth management, and lending.
PhonePe becomes India domiciled company after separation from Flipkart
Existing Flipkart Singapore and PhonePe Singapore shareholders, led by Walmart, have purchased shares directly in PhonePe India.
Flipkart Big Billion Days sale boosts Walmart's revenue
The earlier timing of Flipkart's Big Billion Days event was also a benefit to sales results, says Walmart CFO John David Rainey.
Flipkart revenue up 31% in FY22; loss widens 51% to ₹4,362 cr
Flipkart's net loss in the last fiscal year was the highest in the past four years on a rise in legal, marketing, transport, and warehousing costs.
Binny Bansal: India’s prolific startup investor
The co-founder of Flipkart is one of the most active startup investors in the country today. Bansal has invested in about 47 companies, including Unacademy and Ather Energy.
Zomato valuation absurd: Rakesh Jhunjhunwala
The Big Bull believes the hype around consumer tech and excessive valuations will pop in the days to come.
Walmart bets on Uttar Pradesh’s small businesses
The global retail giant is banking on India’s large micro, small and medium enterprises (MSME) sector, and sees Uttar Pradesh as its key focus area.
Battle of the giants in India’s e-payments space
Facebook’s WhatsApp Pay is the latest player to enter India’s payments space, which already has Alphabet’s Google Pay, Walmart’s PhonePe, Amazon Pay, and Alibaba-backed Paytm.
Walmart’s Fl(IPO)kart moment
Finally, the moment-in-the-sun for the Indian startup ecosystem seems to be on the horizon. And this is why the fate of Flipkart's maiden IPO—that too worth $10 billion— matters.
