Eileen1026
2021-07-12
Hmmm 🤔🤔🤔
Walmart’s Flipkart to Raise Funding at $40 Billion Value
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Those include the Abu Dhabi Investment Authority and the country’s sovereign fund ADQ, Singapore’s GIC Pte, Qatar Investment Authority and Canada Pension Plan Investment Board.The funding round is a boon for Flipkart and U.S. retail giant Walmart, which bought a majority of the Indian company three years ago for $16 billion and has been working toward an initial public offering for the business. It has since carved out the payments arm PhonePe from Flipkart, a unit that could be valued at close to $10 billion, the people said.</p>\n<p>Flipkart representatives didn’t respond to a request for comment. The new fundraising could be announced as soon as this week.</p>\n<p>Japan’s SoftBank, which had previously backed Flipkart and then sold its stake to Walmart at a handsome profit, is back as a shareholder. 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