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Flipkart is one of the biggest online shopping platforms in India and it is a common question that crosses the mind of many people as to who owns Flipkart?
Well the simple answer is that the company is majority owned by Walmart Inc which is the American retail giant.
The company took a major hold of Flipkart in 2018. Here is everything you need to know about this company including its founders, the Walmart deal, and its current leadership team.
Flipkart Ownership Timeline
Flipkart was founded by two friends Sachin Bansal and Binny Bansal. Sachin was born in August 1981 in Chandigarh and studied at IIT Delhi completing his graduation in 2005. Before Flipkart he worked at Amazon for a short period.
Binny Bansal also studied at IIT Delhi and worked at Amazon as well. Here is a simple timeline to help you understand how Flipkart's ownership has changed.
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Year
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Event
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2007
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Flipkart was founded by Sachin Bansal and Binny Bansal in Bengaluru as an online bookstore
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2009 to 2017
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Flipkart raises funds from different investors
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2011
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Flipkart moves its holding company base to Singapore
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May 2018
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Walmart acquires a 77 percent majority stake in Flipkart for about 16 billion US dollars. Sachin Bansal takes an exit from the company
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2018 to 2022
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Binny Bansal gradually reduces and later exits from the company
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2022
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PhonePe is fully separated from Flipkart Group as an independent company
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2023
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Walmart increases its stake to about 80 percent
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2024
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Google invests about 350 million US dollars for a minority stake
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2025 to 2026
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Flipkart shifts its holding company from Singapore to India to prepare for an IPO.
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Who is the CEO of Flipkart?
The current CEO of Flipkart is Kalyan Krishnamurthy who took the post in 2017 even before Walmart took over.
He is the Group CEO of Flipkart Group and before he joined this company, he worked at Tiger Global Management which was one of the earlier investors of Flipkart. He first joined the company in 2013 in the position of interim Chief Financial Officer.
He is responsible for the overall growth, strategy, and daily operations of Flipkart across India. Under his leadership Flipkart strengthened its position in different sectors like fashion, electronics, and festive season sales.
Flipkart Subsidiaries
Flipkart Group is not just one shopping website, the platform owns and runs several other businesses as well:
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Myntra
Ekart
Flipkart Wholesale
Creatrip
Shopsy