Walmart Confirms Acquisition of Tiger Global’s Stake in Flipkart for $1.4 Billion

New Delhi: US retail giant Walmart has successfully completed the acquisition of hedge fund Tiger Global’s investment in e-commerce firm Flipkart, as reported by the Wall Street Journal. The deal was secured for $1.4 billion, valuing Flipkart at an impressive $35 billion, underscoring its strong position in the e-commerce market.

While the specific financial details of the agreement remain undisclosed, a Walmart spokesperson confirmed the buyout and expressed their confidence in Flipkart’s future and the vast potential of the Indian market.

Walmart originally acquired a 77% stake in Flipkart in 2018 for around $16 billion, with Tiger Global being among the early supporters of the e-commerce company, holding approximately 4% of the firm.

With this latest acquisition, Walmart further strengthens its presence in the booming Indian e-commerce sector, emphasizing its commitment to Flipkart’s growth and success.