Walmart purchases shares of Flipkart worth $15-20 Billion


As we had earlier informed you that Flipkart was willing to sell its shares to some company and as expected Walmart has won the raxe for that. as the news of Walmart acquiring Flipkart one of India’s biggest online retail broke out on social media, it grabbed many eyeballs. SoftBank founder and CEO Masayoshi Son confirmed that the US-based retailer Walmart will acquire a controlling stake in Flipkart, making it the biggest deal in India’s e-commerce sector, at an estimated $15-20 Billion.

The e-commerce portal was founded by Sachin Bansal and Binny Bansal in 2007 who were ex Amazon employees. Flipkart initially sold books online however it soon turned into a major game player in the online shopping sector.

According to the reports from Bloomberg, the company has more than 100 million users registered on its site and the company sells eight million products in over 80 categories.

As soon as the news came out twitter was full of jokes for this giant wedding/ colabaration.