Date: 2018-05-09 15:43:25
Flipkart to get sold to Walmart confirms Softbank son on Wednesday. The Walmart and Flipkart deal was locked on Tuesday night Japan time(Source: Reuters).
Softbank will be selling all its Flipkart share to Walmart. softbank invested $2.5 billion in Flipkart and now their total share is around for $4 billion (source: Bloomberg).
Alphabet inc google parent company also likely to purchase some stake in the e-commerce business with Walmart. Sachin Bansal will sell off his 5.5% share which is valued at around $1 billion (source: Mint).
Walmart Inc $WMT is acquiring Indian e-commerce player Flipkart, SoftBank Group chief executive Masayoshi Son said https://t.co/DOhTfF3g2H— Reuters India (@ReutersIndia) May 9, 2018
Flipkart an e-commerce platform was founded in 2007 in Bengaluru and started by Sachin Bansal and Binny Bansal who were the ex-employees of Amazon.
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