Google plans to invest $350 million in Flipkart, securing a minority stake and valuing the Indian e-commerce giant at $37 billion.
According to a source familiar with the matter, the investment marks Google’s entry as a minority investor in a funding round led by Walmart, Flipkart’s largest shareholder. This development aligns with approvals still pending.
Flipkart, based in Bengaluru, confirmed that the funding round would enhance its business growth and modernize digital infrastructure, enabling it to serve customers across India better.
A statement from Flipkart highlighted the strategic importance of Google’s investment and its collaboration on cloud technologies.
Additionally, in December 2023, Walmart committed to injecting $600 million into Flipkart during a $1 billion funding initiative.
Speculation about Flipkart’s potential IPO has been ongoing since Walmart acquired the firm, a major competitor to Amazon.com in India.
Walmart executives stated earlier this month that they are assessing the optimal timing for Flipkart’s initial public offering.
