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FLIPKART PHONEPE SEPARATION
Why Flipkart can't do a PhonePePhonePe and Flipkart, both Walmart-owned, are taking different IPO routes. PhonePe is prioritizing a public listing due to its market leade...- Flipkart valuation declines by over Rs 41,000 crore in two yearsThe valuation of the ecommerce firm declined to $35 billion as of January 31, 2024, from $40 billion in the financial year ended on January...
- PhonePe FY23 revenues rise 77% to Rs 2,914 crore; payments business eyes operating profitThe company says the growth was driven by market expansion, leadership in the digital payments market, and the launch and scale-up of produ...
- Flipkart pays $700 million Esop to staff post PhonePe splitMore than 24,000 individuals, including former Flipkart and Myntra employees, are eligible for payments from the buyback.
- PhonePe racks up additional $200 million from Walmart in ongoing fundraiseThe round is being raised at a pre-money valuation of $12 billion, making PhonePe the most valuable fintech in the country, surpassing paym...
- Flipkart’s positive contribution margin expanding; Walmart international operating cost hit by PhonePe hive-offWalmart International, which includes Flipkart, reported net sales of $27.6 billion for the quarter under review, a growth of little over 2...
- Exclusive: Big payday for PhonePe founders post Flipkart Esop saleCofounders to receive $20-25 m each by liquidating stock options in erstwhile parent
- PhonePe raises $350 million funding from General Atlantic at $12 billion pre-money valuationWhile the primary fundraising is estimated to be $1 billion in size, a secondary share sale will take the total financing to a range of $1....
- Govt may land $1 billion in taxes from PhonePe’s India shift, new raiseThis is due a long-term capital gains tax payout that will be made to the government as PhonePe is raising fresh capital from investors at ...
- PhonePe separation official; online payments firm to be India-domiciled nowHive-off comes on the back of PhonePe’s funding round of $1.5-2 billion at a valuation of $12 billion
- Nearly $700 million cash payout in store for Flipkart employees after PhonePe hive offEmployees who hold stock options in Flipkart will be paid cash equal to the value of PhonePe within those holdings, as the digital payments...
- Flipkart and PhonePe separate; deal to bring windfall for Flipkart employeesSix years after Flipkart acquired PhonePe in 2016, the two companies announced today they are going their separate ways, having concluded a...
- PhonePe's revenue jumps 138%, losses narrow marginallyOverall losses, excluding Employee Stock Ownership Plan (Esop) costs, narrowed marginally to Rs 827 crore in the same period.
- PhonePe shifts headquarters from Singapore to IndiaThe fintech firm has moved businesses and subsidiaries of PhonePe Singapore, including its insurance broking services and wealth broking se...
- PhonePe unit’s shareholding may mirror Flipkart’s post separationBengaluru-based payments company has held early-stage talks for new financing at a significant higher valuation
- Walmart puts $700 million into hived-off PhonePeThe retail giant takes its stake to 10% as Flipkart spins off its payment arm at $5.5 billion post-money valuation.
- Walmart plans to spin off PhonePe from FlipkartThe proposed demerger will coincide with PhonePe's ongoing fund raising plan of about a billion dollar through primary and secondary sale o...
- DST may back PhonePe's $1 billion raisePhonePe, which recently crossed 3-billion-transactions landmark on its platform, is believed to be looking at a valuation in the range of $...
- PhonePe to become a separate entity as Flipkart board approves hive off planPayments company looking to raise up to $1 billion in external capital; it’s not clear how much Flipkart will divest.
- Flipkart wants to load PhonePe in 12 million mobilesInitially, PhonePe will offer fund transfer, bill-splitting, mobile recharge and utility bill payment services.
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