Live
- 'Misleading, prejudiced': O.P. Jindal University rubbishes law student's claims
- BJP MLA in MP alleges illegal tapping of aides’ phones
- Mumbai Police team in C'garh to probe death threat to Shah Rukh Khan
- Ten injured as bus hits truck in Tamil Nadu
- Challenging time for us: Trescothick after England’s ODI series loss to WI
- Apple iPhone 15 becomes best-selling smartphone globally in Q3 2024
- Harmanpreet Kaur sole Indian in 50-player shortlist for WBBL Team of the Decade
- Ideology may differ but there should be harmony while expressing opinions: Ajit Pawar
- Fast-moving wildfire in California forces thousands to flee
- South Korea seeks close communication with Trump for deeper economic ties
Walmart acquires Tiger Global’s remaining stake
New Delhi: Retail giant Walmart has reportedly paid $1.4 billion to acquire VC firm Tiger Global’s remaining shares in the e-commerce major. According...
New Delhi: Retail giant Walmart has reportedly paid $1.4 billion to acquire VC firm Tiger Global’s remaining shares in the e-commerce major. According to a report in Wall Street Journal, Walmart has paid the money to boost Flipkart’s stake. “Purchase of shares from Tiger Global values the Indian e-commerce company at about $35 billion,” the report said late on Sunday.
Walmart purchased Tiger Global’s remaining holding in Flipkart to further cement its control of the Indian e-commerce giant. Tiger Global made an overall gain of $3.5 billion on an investment of $1.2 billion, reports mentioned. Flipkart was earlier valued at $37.6 billion in a 2021 funding round.
Walmart had 72 per cent share in Flipkart as reported last. Tiger Global held a 4 per cent stake in the e-commerce leader.
