Walmart Inc. has taken control of India’s largest e-commerce company, Flipkart Group.
Sachin Bansal & Binny Bansal
Question 2. Which company has taken over Flipkart?
Walmart
Question 3. Which founder of Flipkart has exited after the merger?
Sachin Bansal
Question 4. In 2014, Flipkart had acquired which fashion retailer?
Myntra
- It is acquiring 77 percent stake in India’s e-commerce giant for $16 billion.
- This deal puts the valuation of Flipkart at over $20 billion.
- The deal is the biggest merger and acquisition in India so far and marks the entry of Walmart into the Indian retail business.
- Flipkart co-founder Sachin Bansal has announced his exit from the company after this major takeover.
- The other co-founder of Flipkart, Binny Bansal would stay back and will be a part of the board along with Flipkart CEO Kalyan Krishnamurthy.
- Other large investors in Flipkart that will exit are Softbank, Naspers, and IDG etc.
Expected Questions
Question 1. Who were the founders of Indian e-commerce company Flipkart?Sachin Bansal & Binny Bansal
Question 2. Which company has taken over Flipkart?
Walmart
Question 3. Which founder of Flipkart has exited after the merger?
Sachin Bansal
Question 4. In 2014, Flipkart had acquired which fashion retailer?
Myntra