Walmart injects $600 million into Indian ecommerce giant Flipkart, with potential for an additional $400 million and participation from new investors. The funding is expected to value Flipkart at a 5-10% premium over its last $35 billion valuation. Flipkart intends to utilize the funds for expanding its operations. The infusion follows the exit of co-founder Binny Bansal and other stakeholders in July, who sold their shares to Walmart. Walmart, which owns approximately 80.5% of Flipkart, previously paid $3.5 billion to acquire shares from non-controlling interest holders, with $1.4 billion allocated to Tiger Global for its remaining Flipkart shares.
Flipkart Secures $600 Million Funding Boost from Walmart
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