Flipkart is India’s largest e-commerce marketplace — a homegrown startup that became a global brand before being acquired by Walmart in 2018 for $16B in what was the largest e-commerce acquisition in history at that time. Founded in Bengaluru in 2007 by IIT Delhi alumni Sachin Bansal and Binny Bansal, Flipkart pioneered Indian e-commerce and created India’s first unicorn ecosystem.
| Founded | 2007 — Bengaluru, India |
| Founders | Sachin Bansal & Binny Bansal (IIT Delhi) |
| Owner | Walmart Inc ~75%+ (majority) |
| Acquired by Walmart | 2018 — $16B for 77% stake |
| CEO | Kalyan Krishnamurthy |
| Status | Private (Singapore HoldCo); IPO planned |
Who Owns Flipkart?
Flipkart is majority owned by Walmart Inc, which acquired approximately 77% of Flipkart in 2018 for $16B. Flipkart is incorporated as a Singapore holding company. Other shareholders include early investors Tiger Global, Accel Partners, Tencent, Microsoft, and employees. The founders — Sachin Bansal (sold his stake) and Binny Bansal — have exited or reduced holdings significantly. Flipkart has been preparing for an IPO for several years. Official: flipkart.com.
| Shareholder | Type | Notes |
|---|---|---|
| Walmart Inc | Majority owner | ~75%+ stake; $16B for initial 77% in 2018 |
| Tiger Global, Accel, Tencent, Microsoft | Early/strategic investors | Retained minority stakes |
| Employee ESOP pool | Employees & executives | Significant ESOP plan |
Who is the CEO of Flipkart?
Kalyan Krishnamurthy is CEO of Flipkart Group. He joined from Tiger Global in 2016 and took over as CEO in 2017. Under him, Flipkart has expanded from marketplace to fintech (PhonePe — now separate) and grocery. PhonePe was spun out as a separate company and is now India’s largest UPI payments platform.
History of Flipkart
Sachin and Binny Bansal founded Flipkart in 2007 as an online bookstore with ₹4 lakh ($6,000) capital. It pivoted to a full marketplace, pioneering cash-on-delivery (COD) and logistics (Ekart) to overcome India’s trust deficit in online payments. Flipkart’s Big Billion Days invented the Indian festival sale concept. Amazon India entered in 2013, triggering one of the most watched competitive battles in global retail. Walmart’s 2018 acquisition was its India bet against Amazon. PhonePe has become arguably more valuable than Flipkart’s core commerce business.
Key Milestones
| Year | Milestone |
|---|---|
| 2007 | Founded as online bookstore |
| 2014 | First Big Billion Day; acquires Myntra |
| 2016 | PhonePe UPI payments launched |
| 2018 | Walmart acquires 77% for $16B |
| 2021 | PhonePe spun out; Flipkart valued at $37.6B |
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