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Flipkart was founded in October 2007 in Bangalore [11] by Sachin Bansal and Binny Bansal, alumni of the IIT Delhi and former Amazon employees. [12] [13] [14] The company was started from a two-bedroom apartment in Koramangala, Bengaluru. The initial investment was provided by their families, which was INR 2 Lakh from each family.
Cashify (formerly known as ReGlobe) is a recommerce company with headquarters in Gurgaon, India.It was founded in 2009. It operates as an online marketplace where users can sell their used electronic gadgets like mobile phones, tablets, smartwatches, laptops and video game consoles to professional buyers.
The investigation into Amazon, Flipkart and their sellers was triggered in 2020 by a complaint from an affiliate of the country's biggest retailer association, the Confederation of All India ...
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India. [5] [6] It was founded in December 2015, [7] [2] by Sameer Nigam, Rahul Chari and Burzin Engineer. [8]
Indian consumers are leading the way with 76.4% using a smartphone to make a purchase, which is a drastic increase of 29.3% from the previous year. This has inspired companies like Reliance and Amazon India to come out with their own digital wallet. Flipkart has already introduced its own digital wallet. [8]
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
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