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<ul class="summary-list"><li>Walmart-owned <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> is working towards an IPO as soon as the fourth quarter of this year, Bloomberg reported. </li><li>The Indian e-commerce giant is seeking a valuation that could top $35 billion.</li><li>If achieved, that would mean Walmart more than doubled its 2018 investment in Flipkart.</li></ul>Walmart-owned Indian e-commerce company Flipkart is working towards an initial public offering as soon as the fourth quarter of this year, according to a <a href="https://www.bloomberg.com/news/articles/2021-04-06/walmart-s-flipkart-is-said-to-aim-for-ipo-in-fourth-quarter?sref=LspfQlRv">report from Bloomberg</a>. Flipkart will be aiming for a valuation of at least $35 billion, according to Bloomberg, citing people familiar with the matter.If achieved, that would mean Walmart more than doubled its investment in Flipkart. In 2018, the US retail giant purchased a 77% stake in Flipkart for $16 billion. <a href="https://markets.businessinsider.com/stocks/wmt-stock">Shares of Walmart</a> rose 1.1% after the Bloomberg report Tuesday morning but have since pared back gains. Flipkart will be one of the latest e-commerce-focused IPOs of 2021 as investors bet on the continued dominance of online shopping in a post-pandemic world. South Korean e-commerce giant Coupang Inc. went public in March in the largest IPO of the first quarter, raising $4.6 billion at a $63 billion market capitalization, according to data from Renaissance Capital.The first quarter of 2021 was the busiest quarter for IPOs in the US in over 20 years, with 102 companies going public. But <a href="https://markets.businessinsider.com/news/stocks/ipo-market-newly-public-stocks-underperforming-compass-deliveroo-quarter-2021-4-1030268838">newly public companies have underperformed the market recently</a>, and a number of companies with high-profile IPOs have lowered their own expectations, like <a href="https://www.businessinsider.com/compass-ipo-s1-profit-loss-real-estate-tech-brokerage-2021-3?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Compass</a>, which slashed its IPO price range ahead of its debut last week. It's a sign that investors may be questioning whether the IPO market has overheated in the last year. In September, Reuters reported that Flipkart was preparing for an IPO, <a href="https://www.businessinsider.com/walmart-flipkart-preparing-for-overseas-listing-2020-9">aiming for a valuation in the $45-50 billion range.</a> Walmart has set up an internal IPO team for Flipkart and is aiming to go public in the US. <a href="https://markets.businessinsider.com/news/stocks/spac-walmart-flipkart-public-listing-deal-ipo2021-3-1030150523">The e-commerce company explored going public via a SPAC</a> but that is no longer under consideration, the people said.

Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

<ul><li>Flipkart is planning an IPO in the US by 2022. </li><li>Co-founder <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> has also sold a part of his stake in the company for $76.4 million.</li><li>Reports have been doing the rounds about <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> planning an exit from its biggest investment, because of India’s new e-commerce rules making the market complicated.</li></ul>Within a year of Walmart acquiring Flipkart, the global giant might exit it as Indian e-commerce player plans to raise money in the US markets. Flipkart<a href="https://economictimes.indiatimes.com/markets/ipos/fpos/flipkart-charts-roadmap-for-us-listing-by-2022/articleshow/69920934.cms"> is reportedly </a>heading for Initial Public Offer (IPO) in 2022 in the US, and this might mark the exit of its largest investor, Walmart. According to the ET report, Flipkart CEO Kalyan Krishnamurthy has already told his senior management to get ready for an IPO, and also aim at achieving profitability. Cashing out But it doesn’t stop there. Flipkart co-founder Binny Bansal, who had exited from all operational roles in the company over allegations of personal misconduct, has also sold a part of his shares for $76.4 million, according to filings sourced by paper.vc. Now, Bansal has a residual share of 3.52% in the company, down from 3.85%. Paper.vc also reported that Bansal had cashed out $159 million during the sale of Flipkart. Walmart had then acquired 77% stake in Flipkart for $16 billion. Reports have long been doing the rounds about Walmart planning an exit from the Indian retail company. While Flipkart’s latest revenue reports are not in, the company reported a loss of ₹11.6 billion in March 2018. <a href="https://yourstory.com/2019/06/ecommerce-walmart-funding-flipkart">Walmart</a> was also considering to pump in $1.2 billion more to fund Flipkart’s operations. Earlier in February 2019, Morgan Stanley also warned Walmart about its plans for the India market – the Indian e-commerce market was becoming “more complicated.” This report from Morgan Stanley had come after India’s new e-commerce rules which introduced tighter guidelines. As per the new rules, global players like Amazon or the Walmart-Flipkart entity, are barred from selling products from vendors they have own a stake in. Meanwhile, an Indian player which would be exempt from these rules is – Mukesh Ambani owned Jio along with <a href="https://www.livemint.com/companies/news/reliance-retail-testing-grocery-app-before-launch-of-e-commerce-platform-1556042589629.html">Reliance Retail</a>. It is planning its e-commerce debut which could also threaten the market share of the current players. See Also: <a href="https://www.businessinsider.in/govt-panel-on-new-e-commerce-rules-for-amazon-walmart-flipkart-and-snapdeal/articleshow/69892213.cms">A new government panel is looking at making e-commerce easier in India-- but it may be too soon to cheer for Amazon and Walmart</a>

Flipkart’s IPO in the US could see Walmart exit, Binny Bansal has already begun cashing himself out

<ul class="summary-list"><li><keyword id="35621" type="PERSON" weightage="60" keywordseo="e-commerce">E-commerce</keyword> firm <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> is preparing for an an initial public offering overseas – and is hoping for a valuation of up to $50 billion, sources told Reuters.</li><li><keyword id="80487" type="COMPANY" weightage="60" keywordseo="walmart">Walmart</keyword> bought a roughly 77% stake in Flipkart for about $16 billion back in 2018. This remains the single-largest foreign direct investment in an Indian company.</li><li>At the $50 billion valuation that sources say Flipkart is hoping for, Walmart would more than double its investment.</li><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s e-commerce sector is booming. Flipkart competes with <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> India and <keyword id="8506093" type="UNKNOWN" weightage="60" keywordseo="Jiomart">Jiomart</keyword>, which is owned by India's biggest company, <keyword id="6355199" type="ORGANIZATION" weightage="60" keywordseo="reliance-industries">Reliance Industries</keyword>.</li></ul>Walmart-controlled Indian e-commerce giant Flipkart is preparing for an initial public offering overseas as early as 2021 that could value the firm at $50 billion, Reuters <a href="https://uk.reuters.com/article/walmart-india-ipo/exclusive-walmarts-flipkart-eyes-overseas-listing-as-early-as-2021-sources-idUSL4N2GC2XP">reported</a>.Flipkart will be aiming for a valuation in the $45 billion to $50 billion range, according to one source with knowledge of the matter.If achieved, that would mean Walmart more than doubles its 2018 investment in the company. It paid about $16 billion for roughly 77% stake — this remains the single-largest foreign direct investment in an Indian company.Flipkart is likely to choose either Singapore, where the company is incorporated, or the US, where parent Walmart is based, for its <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword>, said two other sources, who asked not to be named.Flipkart and Walmart did not respond to Reuters' requests for comment.The sources said the preparations and discussions have been largely internal for now, but the company is preparing to consult external advisers soon.Two other sources familiar with the plans said that work has begun to meet compliance, legal, and finance standards ahead of a potential listing.One of the sources said the company expects to launch the IPO in late 2021 or early 2022, but the pandemic has made this uncertain. The second person added that top-level internal meetings regularly refer to being "IPO ready."<h3>India's e-commerce boom</h3>In July, Flipkart raised $1.2 billion in fresh funding with Walmart as its lead investor. That round valued Flipkart at $24.9 billion.China's Tencent, US hedge fund Tiger Global, and Microsoft invested in Flipkart as part of a $1.4 billion funding round in 2017.India's booming e-commerce sector is expected to be worth $99 billion by 2024, according to Goldman Sachs. In May 2020, India's largest company Reliance Industries launched grocery delivery service JioMart, which is growing rapidly and delivering <a href="https://www.businessinsider.com/jiomart-is-building-up-its-order-volume-in-india-2020-7">more than 250,000 orders per day</a>, according to CNBC TV18.Flipkart competes with both JioMart and Amazon, which has reportedly been offered a 40% stake in Reliance Industry's <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> arm, which includes JioMart, for <a href="https://www.businessinsider.com/india-reliance-retail-offers-amazon-stake-worth-20-billion-report-2020-9">$20 billion</a>.Flipkart is tapping into the demand for online shopping, which has soared during the pandemic, by creating 70,000 new jobs for its "Big Billion Days" sales."Big Billion Days" is similar to Amazon's Prime Day, and rakes in the company's biggest sales for the year. The sale lasts four or five days and usually starts around October during India's festive season, which ends with Diwali. The company said on Tuesday it would also sign up more than 50,000 kiranas, or small grocery stores, for last-mile delivery.

Walmart-owned Flipkart, the Indian e-commerce giant, is reportedly eyeing a 2021 overseas listing and hoping for a $50 billion valuation

Today’s top tech news: Bill Gates wanted to create Android, Ambani’s Jio won’t be taking on Netflix just yet, and Flipkart’s US IPO could see Walmart leaving e-commerce

<ul><li><keyword id="45830" type="PERSON" weightage="20" keywordseo="Bill-Gates">Bill Gates</keyword> says that his biggest mistake was allowing Google to develop Android, costing Microsoft $400 billion.</li><li>Mukesh Ambani-owned Reliance Jio's had to plans to create their own content to go up against Netflix and Hotstar, which have now been put on hold. </li><li>Flipkart's US IPO is planned for 2022 and it could mark Walmart's exit from e-commerce.</li><li>NASA was hacked by targeting an unauthorised Rasberry Pi, that wasn't supposed to connected to the system in the first place.</li><li>Microsoft doesn't want its employees using Slack, Google Docs or AWS for work.</li><li>Citing 'rule violations', 61,000 users in Indonesia were removed from WhatsApp a week before nine people were killed in a riot over Widodo's controversial victory.</li></ul> This is Tech Insider’s daily dose of <keyword id="35609" type="PERSON" weightage="20" keywordseo="tech-news">tech news</keyword> — everything that’s happening in tech that you need to know about today from Business Insider and its partner publications:

<ul class="summary-list"><li><keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> is considering a US IPO and has approached several SPACs about a potential deal, Bloomberg reported. </li><li>The online <keyword id="110851" type="PERSON" weightage="60" keywordseo="retailer">retailer</keyword> may seek a valuation of at least $35 billion in a deal with a black-check firm.</li><li><keyword id="80487" type="COMPANY" weightage="60" keywordseo="walmart">Walmart</keyword> bought a stake in Flipkart in 2018. </li></ul><a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart's</a> Flipkart is looking into going public in the U.S., with the Indian online retailer considering a <keyword id="42411" type="PERSON" weightage="60" keywordseo="Merger">merger</keyword> with a blank-check company as an option, according to a report Thursday.Flipkart's advisers have approached several special purpose acquisition companies, or SPACs, in aiming for an initial public offering in the US and to quicken the listing process, <a href="https://www.bloomberg.com/news/articles/2021-03-04/india-s-flipkart-said-to-mull-u-s-listing-with-spac-as-option?sref=GUP2BhaG">Bloomberg reported</a>, citing unidentified sources.Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the report said. Talks are at an early stage and Flipkart could look into other options. A Flipkart representative had no immediate comment, Bloomberg reported.Walmart in 2018 bought a majority stake in Flipkart in a $16 billion deal. Flipkart sells 80 million products on its platforms and is battling <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> and other companies for market share in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>.

You Searched For "Flipkart US IPO" and got 6 results

Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

Emily Graffeo

Flipkart’s IPO in the US could see Walmart exit, Binny Bansal has already begun cashing himself out

Sanchita Dash

Walmart-owned Flipkart, the Indian e-commerce giant, is reportedly eyeing a 2021 overseas listing and hoping for a $50 billion valuation

Grace Dean,Reuters

Today’s top tech news: Bill Gates wanted to create Android, Ambani’s Jio won’t be taking on Netflix just yet, and Flipkart’s US IPO could see Walmart leaving e-commerce

Today’s top tech news: Bill Gates wanted to create Android, Ambani’s Jio won’t be taking on Netflix just yet, and Flipkart’s US IPO could see Walmart leaving e-commerce

Prabhjote Gill

Walmart's Flipkart considers going public in the US via SPAC, report says

Carla Mozée

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