{"id":1261634,"date":"2023-08-03T09:18:19","date_gmt":"2023-08-03T03:48:19","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261634"},"modified":"2023-08-03T09:18:56","modified_gmt":"2023-08-03T03:48:56","slug":"flipkart-ipo-walmart-determined-to-launch-flipkart-ipo-after-buying-tiger-globals-stake","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/flipkart-ipo-walmart-determined-to-launch-flipkart-ipo-after-buying-tiger-globals-stake\/","title":{"rendered":"Flipkart IPO: Walmart Determined To Launch Flipkart IPO After Buying Tiger Global’s Stake"},"content":{"rendered":"\n

Walmart Inc., the majority investor in Flipkart, said that an initial public offering of the Bengaluru-based e-commerce giant remains its “long-term ambition” after it bought out Tiger Global’s stake. Walmart Inc. paid $1.4 billion to buy Tiger Global Management\u2019s remaining stake in Flipkart, according to Bloomberg News. The deal happened at a valuation of around $35 billion for Flipkart, marginally lower than its $38 billion valuation in 2021.<\/p>\n\n\n\n

\"Flipkart<\/figure>\n\n\n\n

Walmart Affirms Confidence in Flipkart’s Future and Expresses Long-Term IPO Ambition<\/strong><\/p>\n\n\n\n

“We value Tiger Global\u2019s involvement and support over the last several years. We remain confident in the future of Flipkart and are even more positive about the opportunity in India today than when we first invested,” a spokesperson for Walmart told<\/a> BQ Prime. “We continue to be impressed with Flipkart\u2019s progress and remain focused on building a healthy, sustainable, and profitable business<\/p>\n\n\n\n

For the long term, ensuring Flipkart continues to grow in an emerging and dynamic market.” The IPO remains “our long-term ambition, and it will come at the right time”, the spokesperson said.<\/p>\n\n\n\n

Flipkart and Amazon Compete for Dominance in India’s Digital Economy Amid Challenges<\/strong><\/p>\n\n\n\n

Walmart had entered Flipkart in 2018, paying about $16 billion for a 77% stake and setting up a direct battle with Jeff Bezos’ Amazon.com Inc. Since then, both American giants have grabbed large pieces of India’s burgeoning digital economy but have failed to be profitable. The space has also seen competition from entrants such as Mukesh Ambani’s JioMart and Sequoia-backed Meesho.<\/p>\n","protected":false},"excerpt":{"rendered":"

Walmart Inc., the majority investor in Flipkart, said that an initial public offering of the Bengaluru-based e-commerce giant remains its “long-term ambition” after it bought out Tiger Global’s stake. Walmart Inc. paid $1.4 billion to buy Tiger Global Management\u2019s remaining stake in Flipkart, according to Bloomberg News. The deal happened at a valuation of around […]<\/p>\n","protected":false},"author":26,"featured_media":1261643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2292,2291],"class_list":["post-1261634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-flipkart-ipo","tag-walmart"],"acf":[],"yoast_head":"\nFlipkart IPO: Walmart Determined To Launch Flipkart IPO After Buying Tiger Global's Stake - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/flipkart-ipo-walmart-determined-to-launch-flipkart-ipo-after-buying-tiger-globals-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flipkart IPO: Walmart Determined To Launch Flipkart IPO After Buying Tiger Global's Stake - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Walmart Inc., the majority investor in Flipkart, said that an initial public offering of the Bengaluru-based e-commerce giant remains its “long-term ambition” after it bought out Tiger Global’s stake. 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