What Are The Flipkart Subsidiaries?

Flipkart is an Indian eCommerce company headquartered in Bangalore and founded by Binny Bansal and Sachin Bansal in 2007. Flipkart started as an online book retailer but soon branched out into consumer electronics, fashion, groceries, and home essentials. Today, Flipkart is the largest eCommerce site in India where it does battle with the Amazon-owned platform Snapdeal. The company and its subsidiaries secured an impressive 60% of the total market share during the Indian festive sales period in late 2021.

Myntra

Myntra is a fashion eCommerce company founded by Mukesh Bansal, Vineet Saxena, and Ashutosh Lawania in 2007. Myntra initially offered a personalized gift service for B2B customers selling shirts, mousepads, and mugs. Four years later, however, it transitioned to fashion and lifestyle products with more than 350 brands available by 2012.

Flipkart acquired the company in 2014 in a deal worth approximately $330 million. Myntra continues to operate as a standalone brand for fashion-conscious consumers.

PhonePe

PhonePe is a financial services and digital payments company that was founded in 2015 by Sameer Nigam, Burzin Engineer, and Rahul Chari. The PhonePe app is one of several to utilize the United Payments Interface (UPI) system developed to facilitate P2P and P2M transactions.

The app is available in 11 Indian languages including Hindi, Bengali, and Tamil, with users able to send and receive money, recharge mobile credit, purchase insurance, and pay their utility bills, to name a few features.

Ekart

Ekart is an Indian courier delivery company that ships the majority of orders that occur on Flipkart’s eCommerce platform. 

The company claims to be the largest end-to-end logistics and supply chain fulfillment business in India. It has a focus on consistency and excellence in customer service, reliability, and the ability to deliver at scale.

Upstream Commerce

Upstream Commerce is an Israeli-based analytics startup that was acquired by Flipkart in 2018 for an undisclosed amount. The move enabled Flipkart to establish a presence in one of the world’s most innovative startup ecosystems and develop data science to help it better manage its eCommerce pursuits.

Announcing the deal, Flipkart chief executive Kalyan Krishnamurthy noted that while the company had created its own seller pricing algorithms, Upstream Commerce would strengthen its capabilities and “be able to provide them (sellers) with automated pricing and help plan better selection in the most accurate, timely, and profitable way.

Ugenie

Ugenie is a comprehensive membership software solution for community-centric businesses such as coaches, entrepreneurs, academies, non-profits, and associations. Features across various paid plans include branded websites and apps, community creation and management, email notifications, business analytics, GDPR compliance, and secret group functionality.

Ugenie became a Flipkart subsidiary after the company purchased the California-based social book discovery tool weRead.com. This acquisition, which occurred in 2010, was Flipkart’s first.

Key takeaways:

  • Flipkart is an Indian eCommerce company headquartered in Bangalore and founded by Binny Bansal and Sachin Bansal in 2007. Today, Flipkart is the largest eCommerce site in India where it does battle with the Amazon-owned platform Snapdeal.
  • Flipkart subsidiaries include fashion eCommerce company Myntra and financial services company PhonePe. The company also acquired courier service Ekart which handles the delivery of online orders.
  • Flipkart acquired Upstream Commerce in 2018 to establish a presence in the innovative Israel startup scene and develop better data-driven pricing algorithms. Community membership software platform Ugenie was part of Flipkart’s first acquisition in 2010.

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