2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Amazon
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Flipkart
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Ebay
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Jabong
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Detailed explanation-1: -PhonePe was incorporated in December 2015. In April 2016, the company was acquired by Flipkart and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet.
Detailed explanation-2: -Ecommerce major Flipkart, which acquired PhonePe in 2016, has fully separated its ownership from the digital payments platform, both firms said in a joint statement on Friday. Establishing these businesses as individual entities will allow both companies to chart their own growth paths, they added.
Detailed explanation-3: -Flipkart acquired PhonePe six years ago, allowing the digital payments company to give over 35 million merchants in India a way to digitize their checkout process.
Detailed explanation-4: -Walmart bought a controlling stake in Indian ecommerce giant Flipkart in 2018, giving it ownership of PhonePe. The company said last month it had completed the separation of PhonePe from Flipkart, adding that it would remain a majority stakeholder in both the companies.
Detailed explanation-5: -PhonePe Group was acquired by Flipkart Group in 2016. “We are confident PhonePe will continue to scale and achieve its vision of providing financial inclusion to millions of Indians, ” said Kalyan Krishnamurthy, CEO of Flipkart Group.