Flipkart Group raises $1.2 bn from Walmart-led investor group; valued at $24.9 bn
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E-commerce giant Flipkart Group said it has closed a USD 1.2 billion funding led by Walmart, its majority stake owner. In 2018, Walmart Inc invested USD 16 billion for acquiring 77% stake in the group. The round, which also saw participation from a group of existing shareholders, valued Flipkart at USD 24.9 billion post-money, a statement said. It will be funded in two tranches over the remainder of the fiscal year, the statement added.