Walmart to pick up Flipkart in $15B deal
May 7, 2018
A group led by Walmart has reportedly agreed to pay $15 billion for a 75% stake in Flipkart, the operator of an ecommerce platform focused on India, with Google parent Alphabet set to contribute a $3 billion co-investment as part of the consortium. If successful, the deal will expand the battleground between Walmart and rival ecommerce titan Amazon in the world's second-most-populous country. Just days before Walmart's agreement, Amazon reportedly approached Flipkart with a formal bid of its own for a 60% stake.
The proposed transaction with Flipkart represents Walmart's latest takeover of an upstart ecommerce outfit. After completing its game-changing acquisition of Jet for $3.3 billion in 2016, Walmart has picked up a number of other online retailers, including men's fashion line Bonobos in a $310 million transaction last year.
The reported deal follows Walmart's decision last week to divest its Asda operations in the UK to the Sainsbury's grocery chain in a £7.3 billion (about $9.9 billion) move. Walmart will receive some £3 billion in cash from the sale and retain a 42% stake.
Want more info on Flipkart's funding history, management and more? Check out its free profile.
The proposed transaction with Flipkart represents Walmart's latest takeover of an upstart ecommerce outfit. After completing its game-changing acquisition of Jet for $3.3 billion in 2016, Walmart has picked up a number of other online retailers, including men's fashion line Bonobos in a $310 million transaction last year.
The reported deal follows Walmart's decision last week to divest its Asda operations in the UK to the Sainsbury's grocery chain in a £7.3 billion (about $9.9 billion) move. Walmart will receive some £3 billion in cash from the sale and retain a 42% stake.
Want more info on Flipkart's funding history, management and more? Check out its free profile.