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Published on Monday, May 10th, 2021
Introduction
Walmart has acquired a stake in Flipkart, one of India’s leading e-commerce firms. The company reportedly paid $1.4 billion to buy out hedge fund Tiger Global’s investment in Flipkart, according to the Wall Street Journal.
Published on Monday, May 10th, 2021
Introduction
Walmart has acquired a stake in Flipkart, one of India’s leading e-commerce firms. The company reportedly paid $1.4 billion to buy out hedge fund Tiger Global’s investment in Flipkart, according to the Wall Street Journal.
Flipkart’s Increased Value
Following the acquisition, the value of Flipkart has increased from nearly $38 billion to $35 billion. Walmart, Flipkart, and Tiger Global have not yet commented on the transaction, according to Reuters.
- Private equity firms Accel and Tiger Global, early backers of Flipkart, were planning to sell their remaining stake to Walmart.
- Tiger Global previously owned approximately 4% of the company.
Flipkart’s Increased Value
Following the acquisition, the value of Flipkart has increased from nearly $38 billion to $35 billion. Walmart, Flipkart, and Tiger Global have not yet commented on the transaction, according to Reuters.
- Private equity firms Accel and Tiger Global, early backers of Flipkart, were planning to sell their remaining stake to Walmart.
- Tiger Global previously owned approximately 4% of the company.
Tiger Global’s Exit from Flipkart
Tiger Global has been a key investor in Flipkart since its early stages. It initially invested $8.6 million in the company’s Series B round in 2009. Over the years, Tiger Global’s investment in Flipkart totaled $1.2 billion, according to Bloomberg.
Tiger Global’s Exit from Flipkart
Tiger Global has been a key investor in Flipkart since its early stages. It initially invested $8.6 million in the company’s Series B round in 2009. Over the years, Tiger Global’s investment in Flipkart totaled $1.2 billion, according to Bloomberg.
Tiger Global sold part of its Flipkart stake to SoftBank Group Corp in 2017, resulting in $3.5 billion in gains for the company, as reported by BB.
Tiger Global sold part of its Flipkart stake to SoftBank Group Corp in 2017, resulting in $3.5 billion in gains for the company, as reported by BB.
Walmart’s Entry in Flipkart
Walmart entered the Indian market with its $16 billion deal to acquire a 77% stake in Flipkart in 2018. The company has been expanding its presence in India’s consumer market and recently launched an online retailing app to support local stores. Walmart now holds approximately 77% stake in Flipkart, an increment of 5% since the initial deal, as reported by ET.
Walmart’s Entry in Flipkart
Walmart entered the Indian market with its $16 billion deal to acquire a 77% stake in Flipkart in 2018. The company has been expanding its presence in India’s consumer market and recently launched an online retailing app to support local stores. Walmart now holds approximately 77% stake in Flipkart, an increment of 5% since the initial deal, as reported by ET.
“We are grateful for our partnership with the Flipkart team and for the opportunity to invest in the company through its early growth stages,” stated Tiger Global in a letter.
“We are grateful for our partnership with the Flipkart team and for the opportunity to invest in the company through its early growth stages,” stated Tiger Global in a letter.
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