Flipkart is one of the largest online shopping platforms. We know Flipkart as India’s first eCommerce company that has hit 100 million customers. But we are unaware of ownership; who took ownership of Flipkart? Is Flipkart owned by Walmart?
Before eCommerce sites like Flipkart & Amazon, our people mostly prefer to make offline purchases.
Flipkart was a small business that made a revolutionary change in the online shopping of products.
At that time, e-commerce was a distinct market & in such time, Flipkart entered the market as an online shopping platform (e-commerce).
The two Indian graduates, Sachin & binny, founded Flipkart in 2007 by quitting jobs at Amazon. They raised Flipkart to another level despite having another strong competitor like Amazon.
Here we can see that Flipkart Company was started by Indians but then what is the connection between Flipkart & Walmart?
Flipkart startup initiated with almost 4 lakh funds in 2007. Till April 2022, as per news reports, Flipkart valued at around $37 billion.
Flipkart is the largest e-commerce shopping platform that has multiple investors. Among these investors who have acquired the largest stakes in Flipkart & who is the owner of Flipkart now?
I will try to clear your doubt regarding Flipkart funding & ownership. I will also tell you about other questions related to it.
Is Flipkart owned by Walmart? Is Flipkart fully owned by Walmart?
Walmart owned Flipkart as it holds the majority of stakes in Flipkart. Walmart is a US retail chain corporation that acquired major stakes in Flipkart in 2018, which valued Flipkart at $ 16 billion. It made Walmart the largest stakeholder by acquiring almost 77% stake in Flipkart. In that deal, Sachin Bansal sold his stakes to Walmart; on the contrary, Binny Bansal retained some stakes in his portfolio. Further, Walmart – owned – Flipkart Indian online Retailer Company valued at around $ 37 billion by raising funds from the soft bank that did reinvestment of $ 3.6 billion, as per Abplive news reports.
In 2022, as per the report of PTI news, Co-founder binny Bansal sold some part of his stakes valued at around 2060 crore to Tencent, a Chinese technology giant (one of the investors of Flipkart). Now he has 1.84 % stakes in Flipkart.
Also, Flipkart has other investors like tiger global, new York-based investors. Before Tencent, tiger global had bought a stake worth $90mn in Walmart-owned Flipkart from its co-founder, Binny Bansal.
Flipkart Company started from very small, and with the help of investors, the company has reached a big level. Currently, this company is well established in the market.
It is basic information about ownership & investments in Flipkart. So, you can easily understand the above details about Flipkart.
Flipkart is owned by which company?
Flipkart is an e-commerce shopping platform operated by Walmart, an American retail Chain Corporation. Walmart, the parent organization of Flipkart, controls the majority of stakes in Flipkart. In 2007, Sachin Bansal & binny Bansal founded Flipkart to start an Indian online consumer shopping platform, which Walmart Company now owns.
Walmart operates to provide better & discounted products with its retail stores & e-commerce platforms. It helps people for finding the right product at a better price. Walmart has a presence of its subsidiary firms worldwide & providing services under it. In 2007, Walmart made a big bang entry through Bharti enterprises.
Indian government imposed some rules for foreign multi brand companies. Under this rules, foreign giants like Walmart have some restrictions to start front end stores by their own.
Hence, Walmart got an opportunity to enter India with a joint venture and took advantage of it to build a strong position.
Who owns Walmart India? Why Flipkart owned Walmart India?
Walmart India Pvt ltd, a subsidiary of Walmart, is owned by Flipkart. Walmart India’s local cash & carry business has multiple resources for the growth of online shopping & ecommerce platforms. With the acquisition of it, Flipkart will have better advantages such as strong technology backup, B2B services, merchandise expertise, supply chain & infrastructure.
As we know, Flipkart has strong competitors in the ecommerce business that have already created better resources. Every company needs proper resources to make business more flexible, secure & user-friendly. With Walmart India’s resources, such as supply chain, distribution network, stores & warehouses, Flipkart will overcome the remaining uncertainties in business.
Flipkart will get more advantages with acquisition of Walmart inc. india’s operations. Walmart has so far been the leader in providing the right products, best service and delivery of the right goods to the retailer and committed to providing the best services.
Walmart is trying to build an ecosystem in which local businesses can leverage walmart’s facilities like infrastructure, wholesale cash-and-carry business, supply chain, financial services etc.
It has aim to develop strong local business that are powered by Walmart.