Google infuses 
350 million & becomes Minority Investor of Flipkart!
Tech significant Google is putting almost $350 million in Walmart-owned digital e-commerce business firm Flipkart for a minority share, as per sources. The investment is essential for the $1 billion subsidizing round began by Flipkart in 2023.
Walmart-supported Flipkart unveiled neither the amount Google had contributed, nor the organization’s valuations. The subsidizing will help the firm as it is looking at a valuation of roughly $60 billion at the hour of its first sale of stock (Initial public offering), presently anticipated 2025-26 rather than this year, as indicated by individuals acquainted with the matter.
The firm should think about posting in India and different geologies, including the US. As per sources, the most recent funding is probably going to esteem the Bengaluru-based firm at a 5-10 percent premium to its past valuation of $33 billion. The new valuation might cross $36 billion.
Flipkart’s valuation had been acclimated to $33 billion after fintech firm PhonePe was isolated from the gathering in December 2022.
Regarding to this, the company said in a statement, ‘As part of the latest funding round led by Walmart, Flipkart today (Friday) announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties”.
Person subjected to the matter said, “Google did the deal as Flipkart is leading in the e-commerce sector. The company plans to deploy the capital to expand its infrastructure and the seller support ecosystem and the latest technologies such as artificial intelligence (AI) and generative AI”.
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