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Arya Nanda made post

Why has Flipkart raised fresh funds from Wal-Mart?

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Juvina Maggie answered.
3 weeks ago

Flipkart, which is already 77% owned by Wal-Mart has raised an additional $1.20 billion equity from an investor group led by Wal-Mart. The latest deal values Flipkart at $24.90 billion. The money will come into Flipkart in two tranches during the current fiscal year. Apart from the ecommerce platform, Flipkart also owns Myntra and Phone Pe.

Flipkart reported that their monthly active customers had grown by 45% while transactions per customer had grown by 30% growth. Flipkart had recently surpassed 1.50 billion visits per month. Flipkart has been among the major beneficiaries of the recent lockdown, which forced people to opt for digital transactions.