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10 May 2018

Big Deal: Corporates cash in as Walmart buys $16bn stake in Flipkart

Walmart invested in the e-commerce platform at a $20.8bn valuation, allowing SoftBank, Naspers and eBay to achieve billion-dollar returns.

Author: Robert Lavine, News Editor

Big-box retailer Walmart confirmed yesterday that it has agreed to pay $16bn for a 77% stake in India-based e-commerce marketplace Flipkart, giving several corporates billion-dollar exits.