American retail company Walmart has bought a large stake in Indian largest e-commerce Online Store Flipkart. Flipkart Walmart deal has been reached for $ 16 billion (Rs 1 lakh crore). Walmart has bought 77 percent stake in the Indian company. This has been confirmed by Walmart. Masayoshi Son, CEO of Japanese Group Softbank, who holds a stake in Flipkart, has also confirmed about this deal
According to Market Research e-commerce sales of the Flipkart store in India went up to $ 21 billion last year and are expected to use more than 1.25 billion people and internet access. Deal will benefit both companies. Last year Flipkarts value was valued at $ 12 billion. Which has reached $ 20 billion this year? Flipkart Deal will be Walmart is the largest investment in the online market. According to the information, Walmart will buy his share from existing shareholders and also make a new investment.
Walmart will get the online platform in India through this deal. Flipkart has more than 43 percent stake in e-commerce industry. At present, after this deal, the company will be competing with Amazon in India. As there is a 38 percent presence of this online store in the online trading market
Worlds largest online e-commerce Store
Analysts believe that Flipkart is the worlds largest e-commerce store and this deal is one of biggest deal in the online market. Flipkart is expected to get a bigger share after this deal. This deal has shocked Amazon, who entered the Indian market in 2013. Last week, Flipkart board had agreed to sell the company to Walmart-led group, 75 percent share of the company. It is expected that 10 percent of the stake will be by the Google