Flipkart Board approved WAL-MART $15 billion for 75% equity trading

category:Internet
 Flipkart Board approved WAL-MART $15 billion for 75% equity trading


The source, who would not be willing to disclose its identity, said the group would sell more than 20% of its shares to Flipkart through a proposed investment fund of about $20 billion. One of the people familiar with the matter said Googles parent company Alphabet might participate in WAL-MARTs investment. It is expected that there will be results in 10 days, but the conditions may change and there is uncertainty in the transaction. The completion of the transaction will mark the success of WAL-MARTs competition with Amason. Amason has been trying to control Flipkart by bidding. The Flipkart board finally reached a deal with WAL-MART, more likely to be approved by regulators, because Amazon is the second largest e-commerce company in India after Flipkart and a major Flipkart competitor. Amazons bid is not winning unless WAL-MART is in trouble. If the deal is completed, WAL-MART, headquartered in Benton, Arkansas, will lead the 1 billion 300 million population and growing market in India and rebuild its online market reputation. The worlds largest retailer has been competing with Amazon as consumer spending on the Internet is growing. India is the next potential big cake after the United States and China, and in the Chinese market, foreign retailers have little to do with the Alibaba competition. In response to the above news, Softbank refused to comment. Flipkart, WAL-MART and Google did not respond immediately to the request for comment. For its part, Amazon has been actively expanding in India. Founder Geoff Bezos (JeffBezos) has promised to invest $5 billion 500 million in India, and Amazons India chief executive, AmitAgarwal, has made progress in promoting the companys localization. Amazon has been quick to snatch Flipkarts market and try to disrupt WAL-MARTs investment in Flipkart, at least partly because the deal will enhance the competitiveness of the India e-commerce business. Through abundant capital and decades of retail expertise, from logistics to marketing, WAL-MART can help Flipkart. At least since last year, WAL-MART has been working hard to win the India electricity supplier company. Last month, WAL-MART agreed to give up control of the British food retailer, Asta (Asda), as part of its global strategy to give priority to a faster growth market rather than a few more mature markets. WAL-MART is merging asstar and JSainsbury, a British retailer, to retain a 42% stake in the merged company. According to sources, as part of WAL-MARTs transaction, it is expected that Flipkarts existing shareholders Tencent, South Africas Naspers and Microsofts minority shareholders will remain unchanged. Flipkarts valuation of $20 billion is much higher than that of the companys $12 billion valuation last year. It has become the most valuable start-up in India. Softbank invested in the India electricity supplier last year, and now it has earned a lot from the investment. According to the source, the Japanese company invested 2 billion 500 million US dollars in its VisionFund. According to the Flipkart valuation after the WAL-MART investment transaction, the value of the investment made by Softbank at that time has now reached $4 billion. (Tianmenshan Mountain) source: NetEase science and technology report editor: Bai Xin _NT4464 According to sources, as part of WAL-MARTs transaction, it is expected that Flipkarts existing shareholders Tencent, South Africas Naspers and Microsofts minority shareholders will remain unchanged. Flipkarts valuation of $20 billion is much higher than that of the companys $12 billion valuation last year. It has become the most valuable start-up in India. Softbank invested in the India electricity supplier last year, and now it has earned a lot from the investment. According to the source, the Japanese company invested 2 billion 500 million US dollars in its VisionFund. According to the Flipkart valuation after the WAL-MART investment transaction, the value of the investment made by Softbank at that time has now reached $4 billion. (Tianmenshan Mountain)