Google Bets on Flipkart Fundraise, To Buy Stakes In E-Commerce Giant

Google Bets on Flipkart Fundraise, To Buy Stakes In E-Commerce Giant

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The e-commerce firm neither disclosed the amount proposed to be invested by Google nor the details of the fund being raised by the firm.

Google has proposed an investment in e-commerce major Flipkart to buy a minority stake during the company’s fresh funding round

Internet major Google has proposed an investment in e-commerce major Flipkart to buy a minority stake during the company’s fresh funding round, the Walmart group firm said on Friday.

“As part of the latest funding round led by Walmart, Flipkart today announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties,” Flipkart said in a statement.

Reportedly, the tech titan will be investing $300-350 million in Flipkart.

With Google’s proposed investment and Cloud collaboration, Flipkart is poised to expand its business and modernise its digital infrastructure, enhancing the customer experience nationwide.

“Google’s proposed investment and its cloud collaboration will help Flipkart expand its business and advance the modernization of its digital infrastructure to serve customers across the country,” Flipkart said.

Namit Singh Sengar

Namit writes on personal finance, economy and brands. Currently contributing to News18.com as a Senior Sub Editor in the business vertical. Prior to t…Read More

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