Grace Sharkey
Monday, July 12, 2021
Walmart-funded Flipkart raises $3.6B as US IPO anticipated
Walmart International bought a 77% stake in the India-based e-commerce shopping portal in 2018.
Walmart International bought a 77% stake in the India-based e-commerce shopping portal in 2018.
A report said that Walmart-owned Flipkart is close to securing $3 billion in new funding as the Indian e-commerce giant explores a possible IPO.
Flipkart is phasing out its conventional vehicles and introducing electric last-mile vehicles, which is expected to lower its carbon emissions by 50 percent.
Walmart is in talks to buy 75% of Flipkart, the largest Indian e-commerce company for $15 billion, which is set to be a game changer in the Indian e-commerce ecosystem.