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Walmart's acquisition of a 77% stake in Flipkart was completed on 18 August 2018. Walmart also provided US$2 billion in equity funding to the company. [108] [109] On 22 December 2023, Flipkart confirmed that US$600 million will be raised from Walmart out of its total fundraising plan of US$1 billion.
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
Walmex is independently traded on the Mexican stock exchange, although Wal-Mart Stores, Inc. holds a majority interest. In January 2009, Walmart completed the acquisition of 58.2% of the leading Chilean retailer Distribucion y Servicio (D&S), adding brands of major importance in that market such as HÃper Lider.
The deal is likely to value Flipkart at roughly $18 billion to $20 billion. Walmart will look to own a roughly 60 percent stake, while Alphabet will get about 15 percent ownership of the online ...
Walmart's Flipkart marketplace and PhonePe payments operations in India could be $100 billion businesses, buoyed by strong growth, the retailer's chief financial officer said a year ago at an ...
Walmart's decision to purchase Indian e-commerce leader Flipkart has investors worried the US retail giant is neglecting one of its core businesses. Walmart could be neglecting a key business by ...
In 2018, Walmart acquired a 77% stake in the Flipkart Group. After the acquisition, Binny Bansal assumed the role of chairman and continued as Group CEO. [18] His 5.5% stake in Flipkart was valued at $1 billion after the acquisition. [19] [20] He resigned from Flipkart in November 2018 on allegations of personal misconduct. [21]
Flipkart will raise $1.2 billion in funding led by majority owner Walmart Inc <WMT.N>, the Indian e-commerce firm said on Tuesday, as it looks to compete better with Amazon.com Inc <AMZN.O> in a ...