What does Flipkart do?
Flipkart runs an online marketplace that Bernstein estimated held 48% of India’s e-commerce market in FY23 24. Sachin Bansal and Binny Bansal launched it in Bengaluru on 15 September 2007 as an online bookstore 8. Walmart, the US retailer, owns Flipkart: it bought control in 2018 and now holds over 80% 104041. The group, which includes Myntra and Cleartrip, reported revenue of ₹1,45,880 crore and a loss of ₹8,468 crore in FY26 33.
| Fact | Detail |
|---|---|
| Founded | 15 September 2007, Bengaluru 8 |
| Founders | Sachin Bansal and Binny Bansal 8 |
| Majority owner | Walmart, over 80% 404112 |
| CEO | Kalyan Krishnamurthy 16 |
| FY26 group revenue | ₹1,45,880 crore; loss ₹8,468 crore 33 |
| Status | Unlisted; IPO on hold as of May 2026, with Walmart asking for EBITDA breakeven in FY27 first 640 |
Who owns Flipkart?
Walmart bought 77% for $16 billion in 2018 10. It paid a further $3.5 billion in 2023, taking its stake to about 80% 1; a later report put it at about 85% 2. Reports in May 2026 put it at 80% or more 4041. Google agreed to invest $350 million in 2024 at a valuation of about $37 billion, and the Competition Commission cleared the deal 34. In March 2026 Flipkart completed moving its holding company from Singapore to India ahead of a planned listing 5. See who owns Flipkart.
How did Flipkart start?
Flipkart started by selling books, added cash on delivery in 2010, bought Myntra in 2014 and acquired PhonePe in 2016 8. Sachin Bansal left after the Walmart deal 10. PhonePe was separated from Flipkart in December 2022 13. See Flipkart’s history.
Business
Besides the main marketplace, the group runs Myntra for fashion, Cleartrip for travel, Flipkart Minutes for quick delivery, the super.money payments app and a lending arm 192122. Flipkart Minutes reached 1,000 dark stores 19. Reported gross merchandise value was about $30 billion in 2025 7. See businesses.
Results
Group revenue rose about 18% in FY26 to ₹1,45,880 crore, and the loss narrowed to ₹8,468 crore 33. The marketplace company, Flipkart Internet, reported FY26 revenue of ₹16,295 crore and a loss of ₹5,498 crore 32. See finances.
Controversies
A Competition Commission investigation found in 2024 that Flipkart favoured some sellers; Flipkart did not comment at the time. The challenge to the probe moved to the Karnataka High Court, which reserved judgment in April 2026 343536. The Enforcement Directorate issued a ₹10,600 crore notice over alleged foreign exchange violations; Flipkart said it complies with Indian law 37. Binny Bansal resigned as group CEO in 2018 after a misconduct inquiry; he denied the allegation 38. See leadership, competitors and acquisitions.
See also PhonePe, e-commerce and retail and all companies.
