Transaction · Payments · 2020

Flipkart / PhonePe 2020

Flipkart acquired PhonePe on December 3, 2020.

Target: PhonePe
Acquirer: Flipkart
Announced: December 3, 2020
Sub-sector: Payments

Transaction overview

Flipkart announced the acquisition of PhonePe on December 3, 2020.

Strategic rationale

Spin-off gives PhonePe operational autonomy, dedicated capital access, and ability to create employee equity incentives while Flipkart retains majority control.

Deal terms & multiples

Deal value: Not disclosed
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: December 3, 2020
Acquirer: Flipkart (Strategic)
Sub-sector: Payments

Sources

yourstory.com /2020/12/flipkart-co-founder-binny-bansal-joins-phonepe-fintech

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