Walmart buys 77% stake in Flipkart

Walmart Inc. has taken control of India’s largest e-commerce company, Flipkart Group.

• 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