Walmart invested in the e-commerce platform at a $20.8bn valuation, allowing SoftBank, Naspers and eBay to achieve billion-dollar returns.
Big-box retailer Walmart confirmed yesterday that it has agreed to pay $16bn for a 77% stake in India-based e-commerce marketplace Flipkart, giving several corporates billion-dollar exits.
The purchase is the largest M&A transaction in the venture capital space since Facebook’s $19bn acquisition of WhatsApp in early 2014, though Walmart’s valuation of $20.8bn in the deal arguably makes it even bigger.
Founded in 2007 as a book specialist, Flipkart has built a diversified e-commerce platform that sells products across more than…
