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Flipkart to Go Public at 50Bn USD, Receives Funds From China
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The ecommerce giant is looking to go public at overseas soon. Flipkart is eyeing the US or any other country. In 2018, Walmart acquired a majority stake in Flipkart for 16 billion USD. The firm recently raised 62.8 million USD from gaming and social media giant Tencent, China-based, amid a border standoff.

The e-commerce giant Flipkart (1) is planning to go public early next year with a 45 to 50 billion USD valuation. The firm is looking for an overseas listing in the US or other countries. Notably, its parent company Walmart is based in the USA. 

On Wednesday, there were reports on the IPO plans of Flipkart. As per the sources, the giant is incorporated in Singapore; however, it will get a deeper funding pool with listing in the USA. Since its parent company, Walmart, will give it access to the market. 

 In 2018, Walmart acquired a majority stake in the firm for 16 billion USD. The infusions made the Bengaluru-based startup to reach the valuation at 21 billion USD. Doug McMillon, Walmart President, and CEO stated that time that Flipkart will go public in the next four years after closing the deal. 

According to the timeline of Walmart, the IPO could be done by 2022. However, thanks to digital transformation in the country, customers are moving towards online shopping. It has resulted in the rapid growth of Flipkart. Hence, the IPO plan is also at a fast pace. If the IPO happens in the USA, Flipkart will likely get the best value, say reports. 

 

Flipkart Receiving Funds From China

On Wednesday, Flipkart received 62.8 Million USD funds from Tencent, a Chinese gaming and social media giant. It is a part of an extension of its funding rounds of 1.2 billion USD. 

With the last funding, Tencent, the Chinese firm, will own a 4 to 5.3% stake in Flipkart; even though the investment is small in the giant, it came amidst border standoff between the two countries. At present, the anti-China sentiment is at its peak. 

In July 2019. Flipkart received 1.2 billion investment from Walmart. The valuation of the firm reached 25 billion with the infusions. It has been its largest fundraise since its acquisition. 

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Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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