Walmart Buys Out $1.4 Billion Tiger Global Stake in India’s Flipkart, Wall Street Journal Reports
August 1, 2023
Walmart has acquired the remaining stakes of hedge fund Tiger Global and venture capital firm Accel in Indian e-commerce company Flipkart, further increasing its control over the firm. The retail giant reportedly paid $1.4 billion for Tiger Global’s shares, valuing Flipkart at approximately $35 billion, a decrease from its 2021 valuation of nearly $38 billion. Walmart originally obtained a 77% stake in Flipkart for around $16 billion in 2018, and this recent move solidifies its position in one of India’s largest online marketplaces as it aims to double its foreign market sales to $200 billion in five years.
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