The Adani Group said that it is investing in Indian online travel aggregator (OTA) Cleartrip Private Limited, a part of the Flipkart Group. As part of the undisclosed investment, the Indian conglomerate will acquire a significant minority stake in the travel booking app. By acquiring the stake, it is expected that the Adani Group and […]
Indian e-commerce giant Flipkart has raised $3.6 billion from a new funding round to take its valuation to $37.6 billion. The new funding round of Flipkart was led by Singaporean sovereign fund – GIC, SoftBank Vision Fund 2, Canada Pension Plan Investment Board (CPP Investments), and retail giant Walmart. Sovereign funds DisruptAD, Khazanah Nasional Berhad, […]
Indian e-commerce company Flipkart said that it will carry out a partial spin-off of Indian payment app PhonePe. Founded nearly four years ago, PhonePe is said to have surpassed 250 million registered users, with more than 100 million monthly active users (MAU) generating almost a billion digital payment transactions in October 2020. Flipkart said that […]
Flipkart acquisition of Walmart India : Indian e-commerce company The Flipkart Group has acquired a 100% stake in Wal-Mart India (Walmart India) from US retail giant Walmart for an undisclosed price. The acquisition is part of Flipkart’s plan to transform the kirana retail ecosystem through the launch of a new digital marketplace called Flipkart Wholesale. […]