- Walmart has acquired Tiger Global Management's remaining stake in Flipkart for $1.4 billion, valuing the Indian e-commerce giant at $35 billion. This transaction marks a decrease from Flipkart's previous valuation of nearly $38 billion during its 2021 funding round.
- This move highlights Walmart's continued interest in India's consumer market as it boosts its bet on Flipkart. Walmart initially acquired a 77% stake in Flipkart for $16 billion in 2018, and now with this latest purchase, it further solidifies its position in the growing Indian e-commerce sector.
Why it matters
The deal underscores the significance of the Indian market for both Walmart and Tiger Global, positioning them to leverage the country's potential for further growth in the e-commerce space.