Google is investing nearly $350 million in Flipkart, marking another significant endorsement for the Walmart-owned Indian e-commerce startup. This strategic investment is part of a broader funding round initiated by Flipkart in 2023, aiming to raise close to $1 billion. Walmart, which has been leading this round, contributed $600 million late last year.
Microsoft is also among Flipkart’s investors. As part of the deal, Google will provide Flipkart with its cloud offerings, enhancing Flipkart’s technological infrastructure and capabilities. This collaboration is expected to boost Flipkart’s operational efficiency and scalability, critical for maintaining its market leadership in India’s rapidly growing e-commerce sector.
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Flipkart, now valued at $36 billion following the latest investment, dominates the Indian e-commerce market, serving hundreds of millions of consumers, especially in smaller cities and towns. The company, which also owns the fashion e-commerce platform Myntra, commands approximately 48% of the market share , according to Bernstein . However, Flipkart faces stiff competition from several formidable players.
Reliance Retail, operated by Mukesh Ambani, Asia’s richest man, runs the largest .
