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Samrat Mazumdar
As part of this funding round, Walmart, which owns 85% of Flipkart, contributed $600 million to the business.
Google's involvement as a minority investor was confirmed by Flipkart, however the business withheld the amount of its stake.
According to sources in the Indian publication, Flipkart's valuation in the funding round was between $35 and $36 billion.
"Google's investment and collaboration with this cloud technology company will help Flipkart in growing its business and modernizing its digital infrastructure," the company said in a statement.
Two former Amazon engineers launched Flipkart in 2007. Walmart purchased the Indian company in 2018 in a $16 billion deal.
source: economictimes.com
Google's involvement as a minority investor was confirmed by Flipkart, however the business withheld the amount of its stake.
According to sources in the Indian publication, Flipkart's valuation in the funding round was between $35 and $36 billion.
"Google's investment and collaboration with this cloud technology company will help Flipkart in growing its business and modernizing its digital infrastructure," the company said in a statement.
Two former Amazon engineers launched Flipkart in 2007. Walmart purchased the Indian company in 2018 in a $16 billion deal.
source: economictimes.com
