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It was rejected by Snapdeal, which was seeking at least US$1 billion. [43] In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 billion. [44] Flipkart is valued at $37.6 billion as of 2022. [45] In November 2018, Wal Mart increased the equity of Flipkart ...
Flipkart and eBay entered into a strategic partnership in July 2017 under which eBay acquired a 5.44% stake in Flipkart in exchange for the contribution of its India business unit valued at $211 million and a $514 million cash investment in Flipkart. Flipkart launched a program to allow its sellers to sell to customers globally in partnership ...
In October 2020, Singapore's sovereign wealth fund GIC bought a 1.22% stake for $752 million, while TPG acquired a 0.41% stake for $250 million, giving Reliance Retail a pre-money valuation of $58.5 billion. [66] In August 2023, the Qatar Investment Authority invested $1 billion in Reliance Retail for a 0.99% stake in the company at a $100 ...
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]
In December 2023, a Flipkart spokesperson confirmed that Walmart was set to infuse $600 mln in the company as part of a $1 billion round. Flipkart has been a source of IPO speculation since ...
Following the unsuccessful plan to merge with Flipkart, Snapdeal pursued a new strategy it called Snapdeal 2.0. The initiative saw the sale of non-core businesses, Freecharge and Vulcan Express, to dedicate more resources to Snapdeal's e-commerce marketplace, which is its core business. [13] [14] The strategy yielded strong results.
Big Bazaar Converting to Smart Bazaar at Avani Riverside Mall. In 2020, Big Bazaar was acquired by Reliance Retail, the retail division of the Reliance Industries, as part of a ₹24,713 crore ($3.36 billion) sale transaction of Future Group. However, the deal was called off on 23 April 2022 after FRL's creditors voted against going forward ...
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]