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Walmart buys $1.4B stake in Flipkart, increasing ownership to 77%. Tiger Global exits. Walmart's Indian e-commerce push gains momentum

Walmart makes a $1.4 bn move to acquire Tiger Global stake in Flipkart

Walmart buys $1.4B stake in Flipkart, increasing ownership to 77%. Tiger Global exits. Walmart's Indian e-commerce push gains momentum

In a strategic move to strengthen its presence in India's burgeoning e-commerce market, Walmart has acquired a significant stake in Flipkart. As reported by The Wall Street Journal on Sunday, the retail giant paid a hefty $1.4 billion to buy out hedge fund Tiger Global's investment in the e-commerce firm.
The deal also involved the exit of two early backers of Flipkart, private equity firms Accel and Tiger Global, as they planned to sell their remaining stake to Walmart. According to a Reuters report, Tiger Global held approximately 4% of the company.
Tiger Global's association with Flipkart dates back to its early days as a startup. The hedge fund initially invested $8.6 million in Flipkart's Series B round in 2009 when the valuation was a modest $42 million. Over the years, it further infused $1.2 billion between 2010 and 2015 through various investment vehicles, including their venture Private Investment Partners funds five through nine and their long-only vehicle, according to Bloomberg's report.
Walmart's foray into Flipkart began in 2018 when it acquired a substantial 77% stake for approximately $16 billion. The retail giant's bold move was part of its strategy to tap into India's growing consumer market. Since then, Walmart has been actively expanding its presence in the country, recently launching an online retailing app to accommodate local stores and smaller merchants.
Walmart and Flipkart have also revealed plans for a public listing of the company within the next four years, setting the stage for further growth and expansion in the dynamic Indian market.

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