Tiger Global’s stake in Flipkart is purchased by Walmart for $1.4 billion

According to individuals familiar with the matter, US retail behemoth Walmart paid USD 1.4 billion for Tiger Global’s whole interest at a USD 35 billion enterprise value.

During its most recent investment round in 2021, Flipkart was valued at 37.6 billion dollars.

“Walmart paid around USD 1.4 billion to purchase a share in Tiger Global. Approximately 35 billion was spent on the purchase, according to a source who wished to remain anonymous.

 

Contacted, a spokeswoman for Walmart confirmed that the retail behemoth had purchased further shares in Flipkart from Tiger Global without disclosing the terms of the transaction.

 

“We appreciate Tiger Global’s participation and assistance over the last several years. We remain optimistic about Flipkart’s future and are now much more optimistic than we were when we initially made an investment in India.

 

“We are still impressed by Flipkart’s progress and remain committed to creating a strong, profitable, and long-lasting company,” the spokesman added. “This will ensure that Flipkart continues to expand in an emerging and dynamic market.”

 

In 2009, Tiger Global contributed to the founding of Flipkart. The company made a USD 9 million investment in Flipkart in 2009 and over time grew to become one of the company’s largest owners, making a total USD 1.2 billion investment by 2017.

 

Tiger Global increased their investment in Flipkart in 2021 even after selling a sizable portion to Walmart in 2018.

 

After selling around 4% of its stake in the e-commerce company that it possessed, the company has now left Flipkart.

 

Sources claim that Accel Partners also sold Walmart its 1% share in Flipkart for roughly USD 350 million.