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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.
