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Walmart acquires Tiger Global's stake in Flipkart for $1.4 billion

Jul 31, 2023

By: BlinkX Research Team

According to the Wall Street Journal's report, Walmart has paid $1.4 billion to buy out Tiger Global's investment in Flipkart, the e-commerce firm. This transaction has resulted in the value of Flipkart decreasing from nearly $38 billion to $35 billion, after previous share sales to investors like Japan's SoftBank and Walmart in 2021.

Earlier this year, the Economic Times reported that private equity firms Accel and Tiger Global, both early backers of Flipkart, were in discussions to sell their remaining stake in the company to Walmart. Tiger Global held approximately 4% of Flipkart's shares.

In 2018, Walmart acquired a significant 77% stake in Flipkart for approximately $16 billion, and at that time, they mentioned the possibility of taking the company public within four years.

Content source: Media reports