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Google to invest nearly $350 million in Flipkart
The New Indian Express
|May 25, 2024
IN the latest round of funding, Walmart-owned ecommerce platform Flipkart has raised $350 million from Google.
This is part of the $1 billion funding round led by Walmart. According to reports, Walmart is likely to have invested $600 million in the India-based online retailer.
In a statement issued by Flipkart on Friday, it said that as part of the latest funding round led by Walmart, it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties.
"Google's proposed investment and its cloud collaboration will help Flipkart expand its business and advance the modernization of its digital infrastructure to serve customers across the country," added the press statement.
This story is from the May 25, 2024 edition of The New Indian Express.
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