{"id":1282032,"date":"2024-05-28T04:22:26","date_gmt":"2024-05-27T22:52:26","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1282032"},"modified":"2024-05-28T04:22:46","modified_gmt":"2024-05-27T22:52:46","slug":"google-invests-rs-2900-crore-into-flipkart-but-wont-get-a-board-seat","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/google-invests-rs-2900-crore-into-flipkart-but-wont-get-a-board-seat\/","title":{"rendered":"Google Invests Rs 2900 Crore Into Flipkart, But Won’t Get A Board Seat"},"content":{"rendered":"\n

As per a source who is privy to the developments, Google has injected $350 million into Flipkart without securing a board seat.\u00a0<\/a><\/p>\n\n\n\n

\"Google
CREATOR: gd-jpeg v1.0 (using IJG JPEG v80), quality = 70<\/figcaption><\/figure>\n\n\n\n

This takes the valuation of Flipkart to $36 billion. <\/p>\n\n\n\n

Without disclosing the amount, the ecommerce giant confirmed the fact that the tech giant invested in them and also that Google would become a minority investor pending regulatory approval. <\/p>\n\n\n\n

Flipkart’s Cloud Collaboration with Google, IPO Plans, Quick Commerce Initiative<\/strong><\/p>\n\n\n\n

Flipkart is planning to expand as well as modernize its digital infrastructure through a cloud collaboration with Google and the investment shall go in the same direction.<\/p>\n\n\n\n

Notably, it is not the very first time that the company is partnering with a major tech player, Since in the year 2017, it shook hands with Microsoft and adopted Azure as its primary public cloud computing platform. <\/p>\n\n\n\n

In order to enhance Flipkart’s data utilization for various business functions, Microsoft’s services, including the Cortana Intelligence Suite and Power BI were leveraged.<\/p>\n\n\n\n

Contemplating to relocate its headquarters from Singapore to India, Flipkart is preparing for a public market listing, as per sources.<\/p>\n\n\n\n

Noting Flipkart’s growth and profitability, particularly with its subsidiary Myntra, the CEO of Walmart, Kathryn J. McLay, indicated the company’s interest in an IPO during recent earnings call.<\/p>\n\n\n\n

Aiming to offer faster delivery and diversify its product range, Google’s investment coincides with Flipkart’s efforts to bolster its quick commerce initiative.<\/p>\n\n\n\n

The company, rather known for its delivery, is now expanding the same-day delivery to 20 Indian cities which would enable it to cater to more customers. <\/p>\n\n\n\n

Previously foraying into quick commerce with Nearby in 2015 and Flipkart Quick in 2020, Flipkart is also looking out for such avenues. Notably, both were discontinued.<\/p>\n\n\n\n

Flipkart’s Delivery Model, Financial Performance, and Growth Trajectory<\/strong><\/p>\n\n\n\n

Flipkart’s delivery model, prioritizing large warehouses over smaller ones, contributes to longer delivery times compared to Amazon, which operates more fragmented warehouses enabling quicker deliveries within 24 hours. <\/p>\n\n\n\n

In FY23, company saw a revenue growth to \u20b955,823 crores from previous year\u2019s \u20b950,992 crores. However, Flipkart’s losses widened to \u20b94,897 crores from \u20b93,413 crores during the same period.<\/p>\n\n\n\n

The company is also in a lookout for cost cutting measures which include annual workforce reviews resulting in layoffs of about 5% of its workforce, roughly 1,000 employees, in January. <\/p>\n\n\n\n

Flipkart, that was found in 2007 as an online bookstore, later evolved into a platform boasting over 500 million users and offering over 150 million products across 80+ categories, with subsidiaries such as Flipkart Wholesale, Flipkart Health+, and Cleartrip.<\/p>\n","protected":false},"excerpt":{"rendered":"

As per a source who is privy to the developments, Google has injected $350 million into Flipkart without securing a board seat.\u00a0 This takes the valuation of Flipkart to $36 billion.  Without disclosing the amount, the ecommerce giant confirmed the fact that the tech giant invested in them and also that Google would become a […]<\/p>\n","protected":false},"author":26,"featured_media":1282034,"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":[394,63],"class_list":["post-1282032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-flipkart","tag-google"],"acf":[],"yoast_head":"\nGoogle Invests Rs 2900 Crore Into Flipkart, But Won't Get A Board Seat - 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\/google-invests-rs-2900-crore-into-flipkart-but-wont-get-a-board-seat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Google Invests Rs 2900 Crore Into Flipkart, But Won't Get A Board Seat - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"As per a source who is privy to the developments, Google has injected $350 million into Flipkart without securing a board seat.\u00a0 This takes the valuation of Flipkart to $36 billion.  Without disclosing the amount, the ecommerce giant confirmed the fact that the tech giant invested in them and also that Google would become a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/google-invests-rs-2900-crore-into-flipkart-but-wont-get-a-board-seat\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-27T22:52:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-27T22:52:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/05\/Flipkart-Banner-Opt-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"465\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rohit Kulkarni\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rohit Kulkarni\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/google-invests-rs-2900-crore-into-flipkart-but-wont-get-a-board-seat\/\",\"url\":\"https:\/\/trak.in\/stories\/google-invests-rs-2900-crore-into-flipkart-but-wont-get-a-board-seat\/\",\"name\":\"Google Invests Rs 2900 Crore Into Flipkart, But Won't Get A Board Seat - 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