Indian e-commerce player Flipkart Group has acquired 100 percent stake in Walmart India, which operates the Best Price cash-and-carry business, and launched a new digital marketplace, Flipkart Wholesale. The move will allow Flipkart to leverage the strong wholesale capabilities of the company and enable growth for kiranas and MSMEs. It will also strengthen the grocery […]
Flipkart raises $1.2bn equity round from Walmart to power e-commerce in India
Flipkart Group closed an additional $1.2 billion equity round to support continued development of its eCommerce marketplace as India emerges from the Covid-19 crisis. The investment is led by Walmart, Flipkart Group’s majority owner, along with a group of existing shareholders and values the company at $24.9 billion post-money. It will be funded in two […]