Flipkart Snags 3 6B In Funds That Reflect India S E Commerce Potential
The latest investment pushes Flipkart’s post-money valuation to $37.6 billion, the company said in a statement Monday. Lead investors for the latest funding round comprised GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2, and Walmart, which acquired a 77% stake in Flipkart in 2018 for $16 billion. Walmart later in 2020 led a $1.2 billion equity round to bump up its majority stake to 82%. The e-commerce operator’s CEO Kalyan Krishnamurthy said the funds injection “reflects the promise of digital commerce” in the country....