Flipkart, Walmart To Complete $7-Bn Deal, Valuation To Reach $20 Bn

Flipkart, Walmart To Complete $7-Bn Deal, Valuation To Reach $20 Bn
In a move to put other E-commerce players in competition US retailer Walmart Inc. is in talks to spend about $7bn to become top investor in India’s leading e-commerce company, a move that would put the US retailer in competition with Amazon.com Inc. in one of the most promising online retail markets.
The deal would give Walmart a major stake in an emerging e-commerce market of 1.3 billion people if the conclusion stays positive.
The Bentonville, Arkansas-based retail giant plans to buy a third of Flipkart Online Services, in part by purchasing stakes from Tiger Global Management and SoftBank Group Corp., said the people wishing anonymity. The deal may push the valuation of homegrown startup to about $20bn, up from about $12bn last year. Flipkart which itself is facing challenge from Amazon may gain sales after being backed from Walmart. Founder Jeff Bezos has already pledged to invest $5.5bn in India and indicated he will spare no expense in his attempt to lead the market.


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