Flipkarn and Uber have lost a battle to gain traction in India with both the services losing customers in recent months.
The digital auction house, Snap, lost 2.5 per cent in the past three months.
Uber, on the other hand, gained 4.2 per cent.
The loss was attributed to “a series of initiatives”, Flipkarmart said in a statement.
The company said it will be launching new products and new campaigns across India this year.
The move is in line with its long-term vision of connecting the people of India with the products they want, it said.
In 2016, Snap had acquired the online marketplace Flipkarma for Rs 7,000 crore.
It said the acquisition was based on the business model that had made Snap the second largest seller in the world behind Amazon.