Daily Fintech Conversations

Walmart hits gold with India Payments as PhonePe valued at $10 Billion

Originally published at: https://dailyfintech.com/2019/11/08/walmart-hits-gold-with-india-payments-as-phonepe-valued-at-10-billion/

How do you make $10 Billion from $300 Million investment within a year? Walmart did just that with their acquisition of Flipkart in India last year. Flipkart is the ecommerce giant in India, and Walmart acquired a 77% stake in them for $16 Billion in 2018. Flipkart came with its payments app Phonepe (pronounced as…