Walmart buys Tiger Global’s remaining Flipkart stake for $1.4 bn

Walmart purchased Tiger Global’s remaining holding in Flipkart to further cement its control of the Indian e-commerce giant

Retail giant Walmart is said to have paid $1.4 billion to buy back the remaining shares of VC’s Tiger Global in the e-commerce sector.

As reported by the Wall Street Journal, Walmart paid to increase its stake in Flipkart.

“The purchase of shares by Tiger Global values ​​the Indian e-commerce company at approximately $35 billion,” the report said on Sunday evening.

Walmart bought Tiger Global’s remaining stake in Flipkart to further tighten its control over the Indian e-commerce giant.

Photo by Marques Thomas on Unsplash

Tiger Global made a total of $3.5 billion on a $1.2 billion investment, according to reports. Flipkart was previously valued at $37.6 billion in a 2021 funding round.

Walmart owns a 72% stake in Flipkart as most recently reported.

Tiger Global holds a 4% stake in the leading e-commerce company.

Last month, Flipkart began paying $700 million in “one-time” cash payments to employees after splitting from fintech company PhonePe.

In an email to employees, Flipkart Group CEO Kalyan Krishnamurthy said: “We have exciting times ahead and as we continue to grow across all businesses, I ask you to continue dedication and determination to realize the future we envision and expand to new heights together.”

PhonePe Group was acquired by Flipkart Group in 2016.

Flipkart Group is one of India’s leading digital commerce organizations and includes companies from Flipkart Group, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip. Launched in 2007, Flipkart has empowered millions of consumers, merchants, merchants, and small businesses to participate in India’s digital commerce revolution, with a registered customer base of over 400 million people, offering more than 150 million products in more than 80 categories. 

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