Recent reports says that Popular American Company Amazon may make a rival offer to buy Popular Indian E-Commerce Firm Flipkart. Flipkart is currently in talks with Walmart for a stake sale. According to the reports, Walmart, the world’s largest retailer, to buy 55% of Flipkart in a deal. The deal points the e-commerce firm valuation at $21 billion (Rough Rs. 1.36 lakh crores), the Mint report says..
A deal with Walmart is more likely to go through, the people said.
According to the reports, Amazon may offer to buy India’s e-commerce Firm Flipkart which is India’s Largest e-commerce firm.Amazon declined to comment when contacted by the Reuters where Walmart & Flipkart did not respond to the emails seeking comment.
Flipkart is one of the most attractive and fastest growing e-commerce firm with over 100-million registered users which actually defeats almost every other Indian e-commerce firm.
Two former Amazon employees Sachin Bansal and Binny Bansal, had formed Flipkart, in 2007. Today they hold nearly 40 percent of India’s online retail, ahead of Amazon, according to the reports.
Rumours say that Walmart will aid Flipkart in it’s fight against Amazon. They have committed to invest $5 billion in India as it expands aggressively, including into online grocery deliveries, which analytics tips as the next big battleground for the country’s e-commerce sector. – The Hindu Report Says.
Flipkart’s success has attracted a bevy of deep-pocketed and tech-savy investors. List of those investors includes U.S. hedge fund Tiger Global Management LLC, online marketing eBay Inc and software maker Microsoft Corp, as well as Chinese technology firm Tencent Holdings Ltd. – Reported by Reuters. It’s clear why big company like Amaoz wants to buy Flipkart. Now it’s a personal grudge or something else, will see later.
What are your views on this article? Tell us in the comment section below.