Sina Technology News On the evening of May 24, Beijing time, people familiar with the matter said today that Google will invest 3 in Flipkart, an Indian e-commerce platform supported by Wal-Mart.crash™teamracingnitrofueled.50 million US dollars and obtained a minority stake, valuing it at approximately US$37 billion.
Google and Flipkart have not commented on the exact value of the investment.
But Flipkart confirmed in a statement that Google will join its latest funding round. This round of financing will be led by Wal-Mart, Flipkart's largest shareholder, while Google will receive a minority stake.
Flipkart also said in a statementcrash™teamracingnitrofueled:"Google's investment, as well as collaboration in cloud computing, will help Flipkart expand its business and modernize its digital infrastructure to better serve its customers."
In December 2023, a spokesperson for Flipkart confirmed that Wal-Mart would inject $600 million into the company as part of a $1 billion financing.
Since Wal-Mart invested in Flipkart, the company has been seen as a potential target for an IPO. Earlier this month, art executives also said thatcrash™teamracingnitrofueledThey are looking for the right time for Flipkart's IPO.