Alphabet to contribute $3 billion in the deal of Flipkart takeover

Absolutely it has proved again by the battleground in the space of e-commerce. It is among the top US based multinationals outside of USA between Walmart and Amazon, each of which lost out on the world’s largest e-commerce market - China.


There are other significant shareholders in the company include early investor Accel Partners, South African media conglomerate Naspers and US-based online marketplace eBay. Walmart and Alphabet are seen joining forces once again as they seek to take on Amazon’s growing retail clout, this time in a market outside the US.


Walmart will acquire about a 60 percent stake in Flipkart, while Alphabet will get a roughly 15 percent stake in the online marketplace for about $3 billion, one of the sources said. US retailer Amazon is Flipkart’s largest online competitor in India, though Flipkart has the biggest market share. Amazon was also reportedly interested in a Flipkart buyout, which would give it control of around 90% of the market. If the Walmart deal goes through, however, Amazon and Flipkart would remain competitors - which would likely be the best result for consumers....Read More

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