Flipkart sold to Walmart

Indian First e-commerce website is sold now to Walmart. 

walmart takes Flipkart for 4 years. 

Flipkart is sold. It has been sold to Walmart, which is acquiring the Indian e-commerce company after valuing it for $ 20 billion. Walmart is acquiring a 77 percent stake in the Indian company, so it's getting the controlling rights. Flipkart co-founder and Executive Chairman Sachin Bansal will sell his entire stake in the company to Walmart.

The $16 billion acquisition, the biggest ever in the e-commerce world -- will see Walmart acquiring a controlling 77 percent stake in Flipkart with co-founder Sachin Bansal formally exiting the company. The deal values the 11-year old Indian e-commerce firm at $20.8 billion, provided it gets regulatory approval, something that is expected to happen later this year. The deal that's being said to be impending since September 2016 is a fresh attempt by the Bentonville company to take on Amazon, in one of the biggest emerging markets in the world. Walmart was initially planning to pick a minority stake in Flipkart, however earlier this year, the talks pivoted to acquiring a larger share. And with the formal announcement on Wednesday, it's clear, Walmart owns Flipkart now.

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