Walmart Really Likes India's Flipkart
India continues to advance on ecommerce, LinkedIn News notes.
Walmart has paid $1.4 billion to buy major investor Tiger Global's remaining shares of Indian e-commerce giant Flipkart, The Wall Street Journal reports. While Walmart initially invested in the company in 2018, when it paid $16 billion for a 77% stake, its buy-in now gives it more exposure to the booming international digital-consumer market. Flipkart said last month its customer base stands at more than 450 million, while it sells over 150 million products across 80-plus categories through its marketplace.
The transaction puts Flipkart's value at $35 billion — down about $3 billion from 2021, when the company last sold shares to Walmart.
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