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Walmart To Buy 73% of India's Flipkart For Up To $16B; Alphabet Might Put in $3B: FactorDaily (factordaily.com)

Posted by ryuzaki0 on from the shape-of-things-to-come dept.

Here's an interesting development about to take place in India. From a report: Walmart Inc. has decided to go all in on its deal to acquire Flipkart in a deal sealed on Thursday to buy 73% of the Indian ecommerce company in one of the biggest mergers and acquisitions in the country -- spending at least $14.6 billion in the cash-and-stock buyout. One source said Flipkart was valued at $20 billion, while two others said Walmart, the world's largest retailer, had put the target company's value at as much as $22 billion, a price at which it will spend more than $16 billion. Alphabet Inc., the parent company of search giant Google, is said to be participating in the deal with a $3 billion investment. Kalyan Krishnamurthy will stay on as chief executive of Flipkart.

28 comments

  1. What? by chezbunch · · Score: 0, Offtopic

    Klipfart is such a bad name!

  2. walmart + google by Anonymous Coward · · Score: 0

    equals bad. not sure how, yet. but there's no other way this can turn out (for us normal folks).

  3. Japan is laughing all the way to the bank by Anonymous Coward · · Score: 2, Insightful

    The Japanese company SoftBank, just made a purchase of a 30% of Flipkart last August (2017) for $2.5 Billion

    Within 10 months, SoftBank made an over 100% profit over that investment when it was sold to Walmart

    1. Re:Japan is laughing all the way to the bank by Anonymous Coward · · Score: 0

      so softbank is making bank here, and they still "need" tmobile to upgrade sprint's network?

      nahh.. they're just greedy little peckers and want to cash out.

    2. Re: Japan is laughing all the way to the bank by spinitch · · Score: 0

      The Japanese company SoftBank, just made a purchase of a 30% of Flipkart last August (2017) for $2.5 Billion Within 10 months, SoftBank made an over 100% profit over that investment when it was sold to Walmart Win some lose some. SBG Snapdeal not going as well but maybe they can salvage that to Amazon:)

  4. walmart.com is a terrible website by FudRucker · · Score: 1, Interesting

    walmart.com has less than half the stuff amazon.com has and the website is terrible, if you select to shop for only items at your local store they dont omit the only only stuff, so if you want to see what is in the store before you get in the car and drive to the store it is pointless, i refuse to shop there anymore, because their website is such a screwed up kludge,

    --
    Politics is Treachery, Religion is Brainwashing
    1. Re:walmart.com is a terrible website by Anonymous Coward · · Score: 0

      Actually, their website just relaunched with a new look. I'm not familiar with the number of products at Amazon vs Walmart, but the couple of times I've compared prices for something I've wanted to order online, Walmart has had the lower price. They also have free shipping if you're order is over $35 without having to subscribe to anything.

    2. Re:walmart.com is a terrible website by rtb61 · · Score: 1

      Do no expect a company that has no respect for it's employees to respect it's customers. They will treat both as badly as they can get away with. For employees unionise or die (that is literally accurate not for all but certainly for the unlucky some) for customers probably better off buying elsewhere https://www.theacsi.org/index.... the only companies doing worse have disappeared.

      --
      Chaos - everything, everywhere, everywhen
    3. Re: walmart.com is a terrible website by Anonymous Coward · · Score: 0

      More like unionize and die, since you'll be out of a job and starving.

    4. Re:walmart.com is a terrible website by drinkypoo · · Score: 1

      i refuse to shop there anymore, because their website is such a screwed up kludge,

      Looks like walmart failed to learn the lesson of Sears. How long before Amazon is opening B&M stores that compete directly with Wal-Mart and puts them out of business as a result? I give it a decade.

      --
      "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
    5. Re:walmart.com is a terrible website by cascadingstylesheet · · Score: 1

      walmart.com has less than half the stuff amazon.com has and the website is terrible, if you select to shop for only items at your local store they dont omit the only only stuff, so if you want to see what is in the store before you get in the car and drive to the store it is pointless, i refuse to shop there anymore, because their website is such a screwed up kludge,

      Try the Android app.

      It will not only tell you what's in store (easily, there are two tabs at the top of your search results), it will tell if it's in stock and what aisle it is in (like "G22").

    6. Re:walmart.com is a terrible website by JackieBrown · · Score: 1

      Do no expect a company that has no respect for it's employees to respect it's customers.

      Are you talking about Amazon or Walmart? :)

  5. Like jet.com? by cascadingstylesheet · · Score: 2

    They plan to raise prices, slash what they carry, and then create their own line of boutique generics that are more expensive then name brand. It'll be a winner.

  6. Don't tell us by ArchieBunker · · Score: 0

    What the fuck flipkart is or anything.

    --
    Only the State obtains its revenue by coercion. - Murray Rothbard
    1. Re:Don't tell us by stephenmac7 · · Score: 1

      I thought the same thing. Slashdot editing is pretty bad. Apparently it's some kind of online shopping website: Flipkart (Wikipedia)

      --
      "No man's life, liberty, or property are safe while the legislature is in session." -- Judge Gideon J. Tucker
    2. Re:Don't tell us by ArchieBunker · · Score: 1, Troll

      Owned by an Indian company. No wonder it looks like cheap flashy shit.

      --
      Only the State obtains its revenue by coercion. - Murray Rothbard
    3. Re:Don't tell us by Xenolith0 · · Score: 1

      It's like when you get hit with a blue shell in Mario Kart. Except now, the kart flips. And I guess you can now buy Mario Kart at Walmart?

  7. Whats Walmart? by ghoul · · Score: 1, Insightful

    Next you will be asking for a description of Walmart. Not everyone lives in the US. Flipkart is 20-30 times bigger than Walmart in India and bigger than Amazon as well. Google has tried breaking into the Indian market with Google Wallet and has had its ass handed to it in the fintech field by PayTM. And India allows 100% foreign ownership in tech so its not a protected market like China. Its just that there are folks in India who didnt leave to come to Silicon Valley to run Google and Microsoft. So there are plenty of smart people and now that the competition is on the field of who has the most brains rather than the most natural resources (US prosperity is built on the Texas and California oil booms and war profiteering from WW1 and WW2), US companies are not the obvious winners. So what do you do? You buy the winners.

    --
    **Life is too short to be serious**
  8. Re:Me? You & "your kind" = HIV/AIDS cases! by Anonymous Coward · · Score: 0

    What the fuck is wrong with you?