Google has proposed an investment in Flipkart, the Walmart-controlled Indian online retailer. On Friday (24), Flipkart announced that the tech giant intends to acquire a minority stake in the company during its latest funding round, led by Walmart, Flipkart’s largest shareholder.
“Flipkart today announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties,” the company stated. The amount Google proposed to invest and specific funding details were not disclosed.
The collaboration with Google is expected to significantly benefit Flipkart. “Google’s proposed investment and its cloud collaboration will help Flipkart expand its business and modernize its digital infrastructure to serve customers across the country,” Flipkart said.
Since Walmart acquired a majority stake in Flipkart, the company has been the subject of ongoing IPO speculation. Earlier this month, Walmart executives indicated they are “looking and exploring” the optimal timing for Flipkart’s initial public offering, as reported by Reuters.
Google’s involvement could boost Flipkart’s capabilities, enhancing its digital infrastructure and expanding its market reach. This partnership underscores the increasing convergence of technology and retail, highlighting the critical role of digital infrastructure in commerce’s future. Stakeholders will closely watch the impact of this investment on Flipkart’s strategic direction and performance.
