It's official now! Yes, finally it has been decided that the biggest retail company in the world Walmart will own the biggest e-commerce company in India, Flipkart. The American firm will have the 77% share in Flipkart in 160 Million dollars. Flipkart's valuation in the deal has been rated 20.8 billion dollars which makes it biggest ever deal in e-commerce. The rest of the 23% holding will be owned by Co-founder Binny Bansal, Tencent Holdings, Tiger Global Management and Microsoft. Executive Chairman Sachin Bansal will sell out his 5.5% share and for that, he will get ₹ 6,700 crores.
Here are benefits that we get from this deal −