New Delhi: In a significant move, Walmart has agreed to acquire hedge fund Tiger Global's 4% stake in Flipkart for $1.4 billion, valuing the e-commerce giant at $35 billion. The deal comes after Flipkart's valuation dipped from nearly $38 billion following sales to Japan's SoftBank, Walmart, and other investors back in 2021.

Tiger Global, a long-standing investor in Flipkart since 2010, saw its stake's value drop to $2.8 billion during the 2021 sale.

This recent buyout signals growing investor caution in the fiercely competitive Indian e-commerce market, with concerns about profitability despite its rapid growth.

Also read:Unveiling the 2023 MG Comet EV: Embracing Sustainable Transportation

For Walmart, the acquisition reaffirms its commitment to the Indian market. Since securing a majority stake in Flipkart in 2018, the retail giant has made substantial investments in the company. It has now expressed intentions to take Flipkart public in the coming years.

Also read: How to Master the Art of Knife Throwing and Precision Targeting

However, regulatory approval is pending for the deal, which, if successful, would mark the latest in a series of significant transactions in India's e-commerce landscape. Amazon's agreement to acquire a 49% stake in Future Retail and Reliance Industries' majority stake acquisition in online pharmacy Netmeds are recent examples of such activity.

Also read: Toyota’s revolutionary evolution against the EV horses in Market

This intense competition among major players is proving advantageous for consumers. With companies vying for market share, consumers are benefiting from lower prices, improved services, and an environment likely to stimulate further innovation in the Indian e-commerce space.