Latest News | Google to Buy Minority Stake in Flipkart in Fresh Funding Round
Get latest articles and stories on Latest News at LatestLY. Internet major Google has proposed an investment in e-commerce major Flipkart to buy a minority stake during the company's fresh funding round, the Walmart group firm said on Friday.
New Delhi, May 24 (PTI) Internet major Google has proposed an investment in e-commerce major Flipkart to buy a minority stake during the company's fresh funding round, the Walmart group firm said on Friday.
"As part of the latest funding round led by Walmart, Flipkart today announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties," Flipkart said in a statement.
The e-commerce firm, however, neither disclosed the amount proposed to be invested by Google nor the details of the fund being raised by the firm.
"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," Flipkart said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)