According to sources Walmart, the US-based retail giant is set to pick up nearly 70% stake in India’s largest e-commerce player Flipkart. Meanwhile the deal, which is likely to be announced by the end of this week, will also see Google’s parent Alphabet picking up roughly 15% stake in the online marketplace. As per report Walmart will be buying Flipkart for a whopping $12 billion, valuing the Bengaluru-based e-tailor at anywhere between $18 billion-$20 billion.
Accordingly the deal, also the largest in the Indian e-commerce space, has made everyone sit up and take notice, as it is expected to be a game changer for the e-commerce ecosystem in the country. Presently Flipkart has been fiercely competing against Amazon for years now. Meanwhile Flipkart claims to be ahead, given the US based e-commerce giant’s commitment to India, financially as well, it wouldn’t be long before Amazon raced ahead of it.
Media
reports that there are conflicting views in the market. Moreover some say
Amazon is threatened, given the fact that it tried its best to counter the
offer made by Walmart, but how the game will really pan out depends on what
Walmart has in store for Flipkart and of course, what the other large players
such as Alibaba-backed Paytm Mall have planned for the Indian market.
