World’s largest E-commerce deal Walmart shopping Flipkart for $16 Bn :
Walmart announced Flipkart’s high profile acquisition of $ 16 billion for the valuation of more than $ 20 billion on Wednesday, making it the largest ecommerce acquisition in the world. According to sources, Bentonville Company has acquired 77% of the Bangalore-based company.
This is also the biggest purchase for the US company, which is the biggest bet in online space and in India, which reduces the increasing digital consumption capability in 1.3 billion countries.
Wednesday’s announcement begins with the talks between Walmart and the Bangalore company, which began with Walmart’s plans to take minority stake in Flipkart in September 2016. The conversation grew towards Flipkart, the world’s largest retailer, in the beginning of this year.
Sachin Bansal Role :
This deal which exits completely from founder Sachin Bansal, will now embrace Walmart and Amazon in the Indian market, which experts say will help in online retail sales in the country.
Wal-Mart president Doug Mcmillon said, “India is one of the most attractive retail markets in the world, considering its size and growth rate, and our investment is an opportunity to partner with a company that is transforming e-commerce into the market “Chief Executive Officer in a statement.
Mcmillon said that the company is also excited to do so with Tenant, Tiger Global and Microsoft, which will be strategic and technical collaborators. “We believe this group will provide advanced strategic and competitive advantages to Flipkart. Our investment provides new suppliers, new skilled jobs to entrepreneurs of farmers and women and providing quality, affordable goods to customers while creating new opportunities. Will benefit. ”
Sachin Bansal, co-founder and CEO of Flipkart, said, “This investment is very important for India and our ambition to deepen our relationship with buyers and sellers and to create the next wave of retail sales in India. Will help in promoting