Mars Wrigley selects Neobanker as advertising agency of record for £20m confectionery business England to expand opportunity for creative collaboration International Business Times Google invests $350m in Walmart’s Flipkart The Times & The Sunday Times In a breakthrough in India’s e-commerce market, Flipkart has received a $350m funding from Google giving it a market valuation &.
Google will invest in Flipkart. The Bengaluru-based e-commerce firm raised capital from outside investors for the first time as it looks to compete in the cutthroat online retailing market. Walmart, Flipkart’s largest investor, once again led the current round of funding.
Google’s proposed investment and its Cloud collaboration will help Flipkart diversify and foray into newer areas and accelerate the contemporary liberalization of its technological platform for delivering orders to customers across the country, Flipkart said in a statement summarizing the strategic fit between the two technology behemoths.
The proposed agreement, which will be contingent on regulatory approval, is, therefore, expected to bolster Flipkart’s standing in the fierce Indian e-commerce marketplace that it operates in against outbound rival Amazon and other local players.
Similarly, as per previous reports, Flipkart, Walmart’s major e-commerce acquisition, also stated that Walmart is all set to invest $600 million in it ahead of the immediate funding of $1 billion, which again points out that the American retail titan isn’t diverting its focus from the Indian e-commerce market.
The latest round of funding from Google for Flipkart will provide the right kind of push for Flipkart to grow further from its already established base and strengthen its online and digital platforms, which will attract customers nationwide.
