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Walmart Buys Tiger Global's Flipkart Stake For $1.4 Billion: WSJ
The transaction valued Flipkart at $35 billion, down from the $38 billion valuation it commanded as recently as 2021.
31 Jul 2023, 07:18 AM IST 
A Flipkart Internet Pvt. logo at the company's warehouse in Koduvalli, Thiruvallur, in the outskirts of Chennai, India, on Wednesday. Sept. 22, 2021. Walmart-backed e-commerce giant Flipkart added 115,000 jobs this Diwali holiday sales season, up from 70,000 in 2020 and 50,000 in 2019. hotographer: Anindito Mukherjee/Bloomberg Photographer: Anindito Mukherjee/Bloomberg
(Bloomberg) -- Walmart Inc. paid $1.4 billion to buy Tiger Global’s stake in Flipkart, the Wall Street Journal reported, citing a letter by the New York hedge fund to investors.
The transaction, which took place in recent days, valued the Indian e-commerce giant at $35 billion, down from the $38 billion valuation it commanded as recently as 2021, according to the newspaper.
Walmart in 2018 paid $16 billion for a 77% stake in Flipkart and the US retailer has been accelerating its push into online retailing in India in recent months.
Read more: Walmart Accelerates India Push as PhonePe Unit Enters Retail
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