Google to invest $350 mn in Flipkart as part of Cloud deal

Alphabet’s Google is set to acquire a minority stake worth $350 million in Walmart-backed Flipkart, a leading e-commerce firm in India, Reuters news report said.
Flipkart India e-commerceFlipkart stated that Google will join as an investor in the latest funding round, led by Flipkart’s largest shareholder, Walmart.

“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 in a statement.

Flipkart did not reveal the details of its Cloud partnership with Google Cloud. Google Cloud is the third largest Cloud service provider in the world. Google Cloud competes with Amazon Web Services and Microsoft Azure.

Since Walmart competes with Amazon.com in the Indian online retail market, Flipkart is unlikely to tie up with Amazon Web Services for its Cloud platform.

In December 2023, a Flipkart spokesperson confirmed that Walmart planned to invest $600 million in the company as part of a $1 billion funding round.

Earlier this month, Walmart indicated it exploring the right timing for Flipkart’s initial public offering.

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