Flipkart vendors, and vice versa, but these plans never actually came to fruit. In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for around US$700–800 million. It was rejected by the company, which was seeking at least US$1 billion. Flipkart held a 51% share of all Indian smartphone shipments in 2017, overtaking Amazon India (33%). Flipkart sold 1.3 million phones in 20 hours on 21 September alone for its Big Billion Days promotion, doubling the number sold on the first day of the event in 2016 (where it sold a total of 2.5 million phones in
Flipkart the sale of electronics and mobile phones. Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI). In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for $16 billion USD. Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal, who were both alumni of the Indian Institute of Technology Delhi and formerly worked for Amazon. i The company initially focused on online book sales with country-wide shipping. Following its launch, Flipkart slowly grew in prominence; by 2008, it was receiving 100 orders per day. In 2010, Flipkart