Walmart plans to invest up to $2.5 billion in Flipkart and PhonePe

Share via:

US-based retail giant Walmart plans to invest up to $2.5 billion in India’s ecommerce and digital payments ecosystems through its subsidiaries Flipkart and PhonePe.

Walmart owns a majority stake in both decacorns, having acquired Flipkart in 2018 and PhonePe through Flipkart later that year. The majority of the $2.5 billion is expected to come from a proposed share sale in which venture capital (VC) firms Accel Partners and Tiger Global Management exit Flipkart. The two venture capital firms were early investors in the $33 billion ecommerce startup and collectively own 5% of Flipkart. Walmart is currently in talks with Accel and Tiger Global to buy their shares for around $1.5 billion, valuing Flipkart at $30 billion. If the transaction goes through, Walmart’s stake in Flipkart will increase to 72%.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Walmart plans to invest up to $2.5 billion in Flipkart and PhonePe

US-based retail giant Walmart plans to invest up to $2.5 billion in India’s ecommerce and digital payments ecosystems through its subsidiaries Flipkart and PhonePe.

Walmart owns a majority stake in both decacorns, having acquired Flipkart in 2018 and PhonePe through Flipkart later that year. The majority of the $2.5 billion is expected to come from a proposed share sale in which venture capital (VC) firms Accel Partners and Tiger Global Management exit Flipkart. The two venture capital firms were early investors in the $33 billion ecommerce startup and collectively own 5% of Flipkart. Walmart is currently in talks with Accel and Tiger Global to buy their shares for around $1.5 billion, valuing Flipkart at $30 billion. If the transaction goes through, Walmart’s stake in Flipkart will increase to 72%.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

‘Send now, pay later’ startup Pomelo lands $35M Series...

Pomelo, a startup that combines international money transfer...

Meta starts licensing headset OS in battle with Apple

On the theme of opening up, Meta is...

What to expect from the new iPad Air

In addition to a new iPad Pro lineup,...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!