Flipkart is all set to be acquired by the US-based Walmart for $16 Billion. Moreover, Google-owned Alphabet is also planning to invest $3 billion. After the sale, Walmart will take a stake of over 73 percent of Flipkart. The sources revealed to us that both Flipkart and Walmart have signed agreements, which confirms the sale. There are few issues that need to be sorted out before the public announcement.
There are reports that the company had already paid $14.6 billion in the cash and stock buyout on May 3. For the last few days, rumors were floating on the web by stating that Walmart will acquire 40 percent, 51 percent. However, the home-grown board reportedly approved 73 percent buyout.
After the acquisition, the existing CEO Kalyan Krishnamurthy will continue to work for the Banglore-based e-commerce company. However, Sachin Bansal will exit from the company. It is to be noted that the Microsoft, Tencent, and Tiger Global won’t cash out completely. Interestingly, Softbank will exit from the company by selling 20 percent of its stake.
Recently, there were rumors that Amazon will acquire the Bansal-owned company. It is reliably learned that the management was not at all interested to sell the company to Amazon because it won’t create any competition.
If Amazon acquires Flipkart, then customers will be forced to buy from Amazon. Hence, the acquisition by Walmart will create ripples in the commerce segment since it will provide better products and offers. As a customer, you require different e-commerce platforms to grab exclusive deals.
While Amazon Echo is exclusive to Amazon, Google Home is being sold by Flipkart. If Amazon acquires Flipkart, then will they continue to sell Google Home Mini and Google Home and Chromecast? Normally, Pixel handsets are sold only by Flipkart. The whole Google ecosystem will crumble if Flipkart got sold to Amazon. Hence, selling the company to Walmart will turn out to be fruitful in the upcoming days. We can expect the huge addition of new products with amazing discounts and offers.
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