![]() ![]() In July last year, Walmart had led a $1.2 billion investment in Flipkart Group, valuing the company at $24.9 billion, about 19% higher than when it bought a majority stake in the retailer. ![]() Queries sent to spokespersons at Flipkart and SoftBank did not elicit a response.Īlso Read: SoftBank Vision Fund CEO Rajeev Misra on the fund's India plans Its possible re-entry into the online retailer comes at a time when large Indian groups like Reliance Industries and Tata have sought to capture market share in the fast-growing consumer internet sector, and intend to deploy huge amounts of capital to prop up their digital businesses.įlipkart’s traditional rival Amazon too has been relentlessly chasing the India market, having invested more than $7 billion in the country and diversified from etailing to online payments, streaming, food delivery, with more to come. SoftBank had earlier invested $2.5 billion in Flipkart before its 2018 exit. The conglomerate went ahead to back Flipkart, only to sell its entire 21% holding to Walmart a year later for about $4 billion when the Bentonville-headquartered retail behemoth bought a 77% stake in the Indian etailer. ![]() In 2017, SoftBank tried orchestrating a merger between its portfolio firm Snapdeal and rival Flipkart, but the deal was scuppered largely because of opposition from Snapdeal. If the deal materialises, it will be yet another big move by the Masayoshi Son-founded SoftBank in India’s e-commerce market, which it has reordered with massive cash infusions. ![]()
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