Walmart infuses $1.2 bn in Flipkart, valuing e-commerce firm at $24.9 bn

The Flipkart Group said it closed the additional $1.2 billion equity round to support the continued development of its e-commerce marketplace as India emerges from the Covid-19 crisis

Walmart, the world’s largest retailer, has led a $1.2-billion investment in Flipkart, valuing the  e-commerce firm at $24.9 billion.

In 2018, when Walmart invested $16 billion for a majority stake in Flipkart, the Bengaluru-based firm was valued at less than $21 billion. With the latest investment, Flipkart has widened the gap with the second-most valued start-up in India, Paytm, pegged at $16 billion. The distant third and fourth in the pecking order are Byju’s at $10.5 billion and Oyo at $10 billion. 

 The new investment would increase Walmart’s stake in Flipkart to about 80 per cent from 77 per cent now, according