It’s official. Walmart has wrapped up Flipkart acquisition for $16 billion, a valuation of over $20 billion, which makes it the world’s biggest e-commerce deal. Walmart will own around 77% of the Bengaluru-based company in what is also being seen as the largest buyout for the US firm.
The deal, which will see founder Sachin Bansal exit completely, will now pit US-based giants Walmart and Amazon in the Indian market.
The deal is going to shake things up. The world’s biggest retail deal will impact the whole segment, the competitors, and the consumers.
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