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Bloomberg: WAL-MART will buy India e-commerce Flipkart for $7 billion

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Bloomberg: WAL-MART will buy India e-commerce Flipkart for $7 billion
DoNews3 Sept. 17 news (reporter Zhai Jiru) according to Bloomberg News quoted informed sources said, the line super giant WAL-MART is working with the India Flipkart large business platform negotiations, plans to price of approximately $7 billion acquisition of one third of the shares and become its largest shareholder. Flipkart was founded by two former Amazon employees in 2007, and in April 2017, it got the latest round of $1 billion 400 million investment, valued at $11 billion 600 million. Informed sources, WAL-MART will be from tiger Global Fund and Softbank bought a stake, after the completion of the transaction Flipkart valuation will reach $20 billion. This Agreement may be signed in at the end of this month to complete. Last summer, WAL-MART also spent $3 billion 300 million on Amazon's jet.com. In addition, the sports apparel e-commerce Moosejaw, purchase shoes e-commerce ShoeBuy and so on are also in Waugh.
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