Flipkart’s $20 billion deal sell 75% share to Walmart

It has been released out that Flipkart is now agreed on selling its partial business to Walmart India but the founders are still silent. Recently Walmart offered Flipkart and Amazon to merge with it and work together in online ecommerce market, Amazon refused that but Flipkart has agreed on the deal and signed up the agreement to work with Walmart India in online selling. Walmart India is a concept business to eliminate the mediator from manufacturer and end users and by offering cheaper price encourages people to save money and live a better live too. It owns and operates 21 B2B modern wholesale stores under ‘Best price brand’ and now in expansion of the business taking over Flipkart’s 75% stake in consideration to $20 billion.

Flipkart has taken over by Walmart

From the private resources it has came to know that Google-parent Alphabet Inc from Walmart is play a major part in the deal and softBank Group Corp, the largest investor bank of Flipkart will sell more than 20% stake it holds in Flipkart through an investment fund of $20 billion

Flipkart is the India based world’s largest brick-and-mortar retailer site that gives the feasibility to seller and buyer to sell and buy things online. Founded in Oct 2007 by Sachin Bansal and Binny Bansal, flipkart is famous for its product quality, timely delivery and return policies. The mobile application and website of Flipkart gives the more feasible platform to place order, easy cancellation, return and timely reporting messages to client for order solely.

Now the Flipkart’s co-founder and executive chairman, Sachin Bansal has signed the agreement to give its 75% stake to Walmart India. As per the deal amalgamation of the world’s largest brick-and-mortar retailer will not affect its management and Mr. Krishnamurthy, the present CEO and Binny Bansal the co-founder will retain their position in the company.

Source: https://timesofindia.indiatimes.com/

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