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Flipkart Likely To Get Sold! Walmart Is Purchasing Flipkart Says Softbank CEO Masayoshi Son

Date: 2018-05-09 15:43:25

By TabloidXO Writers



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).

After Sachin Bansal exit, it is expected that Binny Bansal will be taking the command as a chairman of flipkart and Kalyan Krishnamurthy will remain the CEO of the company.

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.

Today we might hear the deal from Walmart about the Acquirement.


TAGS: flipkart sold, walmart purchasing flipkart, 20 billion deal flipkart


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