News: Amazon may offer to buy Flipkart: Report

C-Suite

Amazon may offer to buy Flipkart: Report

Flipkart is already in talks with Walmart. Read on to know more.
Amazon may offer to buy Flipkart: Report

As per the latest media report, Amazon is exploring the option of buying a stake in the Indian e-commerce giant, Flipkart. And this is amid the ongoing talks between Walmart and Flipkart. The latter is reportedly interested in buying around 40-55% stake in the company. According to the report, investors like Tiger Global Management, Accel Partners, Naspers, IDG Ventures among others might sell off all of their shares or some of them.

According to report though, the deal with Walmart is more likely to be finalized. The company is currently being valued at $20 billion and is actually being seen a wondrous turnaround by the industry pundits. It is Kalyan Krishnamurthy who has been largely attributed for the turnaround, which as per the report had actually had been undervalued by its own investors in 2016, and it had also lost its market share to Amazon.

But because the Big Billion Day sale, which kicked of in October 2016, the company picked up speed, and is currently ahead of Amazon in the e-commerce space. The investors are lining up because of the benefits that the Indian market provides to the top e-commerce player. Amazon, led by Jeff Bezos, is known for giving competitors a strong fight. It has already invested $2 billion in its Indian arm and has plans to invest $3 billion in the future.

Walmart and Amazon are not the only one interested, Google had offered to invest in the e-commerce giant at a valuation of $15-16 billion in February of this year.

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Topics: C-Suite, #MergersAndAcquisitions

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