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<ul><li>The round was led by GIC, CPP Investments and Softbank.</li><li>Parent company Walmart also pumped money into the Indian ecommerce biggie.</li><li>CEO of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> said the firm will focus on India’s MSMEs.</li></ul>Walmart-owned e-commerce titan Flipkart has raised $3.6 billion (approx. ₹26,800 crore at current rates) at a post-money valuation of $37.6 billion. The round of funding was led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and Walmart. DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this mega-investment round, the company said in a statement on Monday. Kalyan Krishnamurthy, chief executive officer of Flipkart, said in a statement that Flipkart will “focus on accelerating growth of millions of small and medium Indian businesses, including kiranas [mom and pop stores].” Parent company Walmart is expected to hold about 74% to 75% stake in the ecommerce giant after this round. Walmart had acquired 77% stake in Flipkart back in 2018, giving exits to founders Binny and Sachin Bansal, subsequently. The acquisition had given a partial or complete exit to several other marquee investors as well, including Tiger Global, SoftBank, Naspers and Accel among others. Tiger Global and SoftBank were two of the biggest beneficiaries of the Flipkart acquisition. Tiger Global clocked <a href="https://www.bloomberg.com/news/articles/2018-05-09/tiger-global-is-said-to-reap-3-billion-from-flipkart-investment">three times return</a> on its $1 billion investment in the company. Meanwhile, SoftBank had invested about $2.5 billion in Flipkart back in 2017 and sold its stake to Walmart a year later, for $4 billion. Flipkart will use this fresh capital to expand its operations, further increase its market share and other vertices like groceries, fashion and consumables. A part of the fund will also go into enhancing the company’s supply chain and logistics network. “This investment by leading global investors reflects the promise of digital commerce in India and their belief in Flipkart’s capabilities to maximise this potential for all stakeholders. We will continue to invest in new categories and leverage made-in-India technology to transform consumer experiences and develop a world-class supply chain,” CEO Krishnamurthy added. The capital will also allow Flipkart to take on other well-fueled competition Amazon, Reliance and Tata Group, who have been going aggressive to take on Flipkart’s share of the market. Flipkart India Private Limited had reported a revenue of <a href="https://www.business-standard.com/article/companies/flipkart-india-revenue-grew-12-to-rs-34-610-cr-in-fy20-losses-dropped-18-120120101431_1.html">₹34,171 crore</a> in the financial year 2020, whereas Amazon Seller Services was at ₹11,028 crore. These revenues were for e-commerce businesses. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-ecommerce-website-is-down-as-the-company-is-hit-by-a-massive-outage/articleshow/84335580.cms">Amazon India product pages are down across the website as buyers begin their Monday morning shopping</a> <a href="https://www.businessinsider.in/business/auto/news/hero-electric-raises-220-crore-to-sell-over-a-million-electric-scooters-a-year/articleshow/84335696.cms">Hero Electric raises ₹220 crore to sell over a million electric scooters a year</a>

Flipkart raises $3.6 billion at a valuation of over $37 billion, to focus on ‘millions of small and medium Indian businesses’

<ul><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> is planning a $10 billion <keyword id="3123061" type="PERSON" weightage="20" keywordseo="Flipkart-IPO">Flipkart IPO</keyword>, valuing the Indian e-commerce giant at $40 billion.</li><li>At this valuation, Walmart’s investment in the Indian e-commerce giant would nearly double since it acquired Flipkart in 2018 for $16 billion.</li><li>Walmart has roped in investment bank Goldman Sachs to explore the Flipkart IPO plan, according to a Mint report.</li><li>Earlier in July this year, <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Flipkart raised $1.2 billion</a> in a fresh round of funding, valuing the company at $24.9 billion. This round was led by Walmart.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The much-anticipated Flipkart IPO (initial public offering) could soon be a reality. US retail player Walmart is reportedly gearing up to float a $10 billion Flipkart IPO in the US, divesting up to 25% of the stake in the Indian e-commerce player. According to a Mint <a href="https://www.livemint.com/market/ipo/walmart-readies-for-10-bn-flipkart-ipo-11607300769974.html">report</a>, Walmart has roped in investment bank Goldman Sachs to explore the Flipkart IPO plan. Business Insider has reached out to Flipkart for a statement and is awaiting a response. A $10 billion IPO would value Flipkart at $40 billion. This is 20% lower than the $50 billion valuation that was expected <a href="https://www.businessinsider.in/retail/news/walmart-owned-flipkart-the-indian-e-commerce-giant-is-reportedly-eyeing-a-2021-overseas-listing-and-hoping-for-a-50-billion-valuation/articleshow/78151697.cms">earlier in September</a>. However, at a valuation of $40 billion, Walmart’s investment would nearly double – it acquired Flipkart in 2018 at $16 billion for a 77% stake. At the time of its acquisition, Walmart pledged to take Flipkart public within four years. <div type="image" title="Flipkart valuation history" msid="79602375" hostid="261" caption="&amp;lt;p&amp;gt;Flipkart valuation history from 2009 to December 2020.&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;*based on reports of Flipkart IPO estimated the value of the company at $40 billion&amp;lt;/p&amp;gt;"></div> Note: December 2020 valuation is based on reports of Flipkart IPO. At the moment, Walmart’s stake in Flipkart stands at 82.3%, with Tiger Global, Tencent, Accel Partners, and Microsoft being the other key investors. Earlier in July this year, <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Flipkart raised $1.2 billion</a> in a fresh round of funding, valuing the company at $24.9 billion. This round was led by Walmart. Flipkart going public will allow minority shareholders to pare their investments or make an exit. <div type="Article" hostid="261" msid="79544185" title="PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity" mstype="2" mssubtype="0"></div> Riding the Indian e-commerce boon Walmart’s plans to take Flipkart public could have been bolstered by the surge in e-commerce sales since the COVID-19 pandemic broke out. The massive surge in e-commerce sales is corroborated by Flipkart’s own statistics - the e-commerce giant <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-big-billion-sale-report-over-100-orders-per-second-10-million-products-delivered-already/articleshow/78790627.cms">witnessed a ten-fold increase</a> in its shipments during its festival sale this year. On an acquisition spree In addition to witnessing a massive surge in orders this year, Flipkart is also on an acquisition spree. From augmented reality startups to fashion companies, the e-commerce giant has been busy this year. After acquiring Walmart’s India operations this year, Flipkart also dabbled in the social gaming and augmented reality spaces with the acquisitions of <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Mech Mocha</a> and <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-buys-ar-firm-scapic-to-boost-its-user-experience/articleshow/79256274.cms">Scapic</a>. It has also made a <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-invests-in-uspl-fashion-house-that-has-brands-like-virat-kohli-wrogn-and-kriti-sanon-ms-taken/articleshow/79058747.cms">few investments in the fashion space</a>, including USPL which houses Virat Kohli’s Wrogn. It has also invested in Aditya Birla Fashion Retail and Arvind Fashions. Flipkart is also expanding its partnerships with kiranas (the Hindi word for mom and pop stores), which delivered over 3.5 million orders during the Big Billion Days sale this year. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-big-billion-sale-report-over-100-orders-per-second-10-million-products-delivered-already/articleshow/78790627.cms">Flipkart Big Billion sale report - over 100 orders per second, 10 million products delivered already</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Walmart powers Flipkart with an additional $1.2 billion⁠ to help e-tailer battle Google, Facebook, and Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/phonepe-700-million-5-5-billion-valuation-flipkart-separate-entity/articleshow/79544185.cms">PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity</a>

Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years

<ul><li><keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> and <keyword id="6357886" type="General" weightage="100" keywordseo="phonepe" source="Orion">PhonePe</keyword> have announced that they are fully separated now, six years after the e-commerce giant acquired the latter. </li><li>The separation comes at a time when PhonePe is reportedly in talks to raise funds at a valuation of close to $13 billion. </li><li><keyword id="80487" type="General" weightage="20" keywordseo="Walmart" source="Orion">Walmart</keyword> will continue to be the largest shareholder of PhonePe and Flipkart, according to a joint statement by the companies. </li></ul>Flipkart and PhonePe have announced that they are fully separated now, six years after the e-commerce giant acquired the latter, the companies said in a joint statement on Friday. Post the completion of the separation, PhonePe is now a fully India-domiciled company. To recall, PhonePe moved its registered office from Singapore to India in October. “Setting up these businesses as separate entities will also provide value and create new opportunities for investors to participate in the Indian tech ecosystem – helping unlock and maximize enterprise value for shareholders of the two companies,” the companies said. The separation comes at a time when PhonePe is in talks to raise funds at a valuation of close to $13 billion, according to a <a href="https://www.bloomberg.com/news/articles/2022-12-08/walmart-s-payments-startup-phonepe-seeks-to-raise-1-billion">Bloomberg report</a>. If it succeeds, it would become the most-valued fintech startup in India. The company had raised $700 million in 2020, led by Walmart and existing investors, including Tiger Global, at a valuation of $5.5 billion. While media reports earlier suggested that PhonePe was planning an IPO, the company’s founder and CEO Sameer Nigam in June 2022 dismissed the reports, saying, “PhonePe is not planning an IPO right now. We are focusing on building our business, and will go public once our core businesses turn profitable and our new initiatives have achieved a good product-market fit and scale,” according to a PTI report. As part of the separation of the two companies, the existing shareholders of Flipkart Singapore and PhonePe Singapore, led by Walmart, have taken up equity directly in PhonePe India. Walmart will continue to be the largest shareholder of PhonePe and Flipkart, according to the statement. “We are looking forward to the next phase of our growth as we invest in new businesses – like insurance, wealth management and lending, while also enabling the next wave of growth for UPI payments in India. This will help propel our vision to provide billions of Indians with financial inclusion,” said Nigam in the statement. The separation of Flipkart and PhonePe could also have an impact on the former’s valuation – while the e-commerce giant is currently valued at $37.6 billion after a fundraise of $3.6 billion in 2021, it was <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">reportedly</a> seeking a $60-70 billion valuation for its planned IPO in the US in 2023. <cmsannotation type="cmsannotation" annotationid="PhonePe is the current market leader in UPI payments in the country" comment="subhead" text="PhonePe is the current market leader in UPI payments in the country">PhonePe is the current market leader in UPI payments in the country</cmsannotation> PhonePe currently has over 400 million UPI users in the country, with a 46% market share in terms of payment volumes and a 49% share in terms of payment values, as of November, according to data from the National Payments Corporation of India (NPCI). Apart from this, the company also has 35 million merchants covering 99% of the pincodes in the country. It also has 1.1 million sellers on its platform, including small and medium businesses, artisans and craftsmen. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-retail-to-acquire-wholesaler-metro-cash-carry-for-2850-crore/articleshow/96415905.cms">Reliance Retail to acquire B2B wholesaler Metro Cash &amp; Carry for ₹2,850 crore</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-load-up-on-realty-stocks-in-the-first-half-of-december-total-inflows-edge-up-to-9017-crore/articleshow/96393580.cms">FPIs load up on realty stocks in the first half of December, total inflows edge up to ₹9,017 crore</a>

Flipkart and PhonePe complete separation six years after acquisition

<ul><li>The <keyword id="12594925" type="General" weightage="50" keywordseo="netflix-hub" source="Orion">Netflix Hub</keyword> will roll out into more than 2,400 <keyword id="80487" type="General" weightage="80" keywordseo="walmart" source="Orion">Walmart</keyword> stores with a new streaming gift card.</li><li>Through specially crafted Concession Kits, the <keyword id="6590294" type="General" weightage="100" keywordseo="hub" source="Orion">Hub</keyword> is bringing a theatre experience home.</li><li>Seasonal product releases will keep popular trends available all year long for customers.</li></ul> Retail giant Walmart has announced a partnership with <keyword id="128682" type="General" weightage="80" keywordseo="netflix" source="Orion">Netflix</keyword> to bring the Hub, which claims to bring viewers closer to their shows and movies. The Netflix Hub will roll out into more than 2,400 Walmart stores with a new streaming gift card. "Walmart customers will find even more music, apparel, collectibles, games and seasonal items from all their favourite shows and films including 'Stranger Things', 'Squid Game', 'The Witcher' and more," the company said. Additionally, the retail company will sell discounted streaming gift cards. Customers now have the option to stream popular trends without using a credit or debit card. Through specially crafted Concession Kits, the Hub is bringing a theatre experience home. The company brings themed kits with everything customers need to enhance the couch-centric watching experience, including popcorn, candy and collectible cups. Seasonal product releases will keep popular trends available all year long for customers. Recently, the retail giant was reportedly raised up to $3 billion for its e-commerce giant <keyword id="6354742" type="General" weightage="50" keywordseo="flipkart" source="Orion">Flipkart</keyword> to further expand its operations in the country. With new funds, Flipkart's valuation was set to soar to more than $40 billion, giving a fillip to the Indian funding scene which was going through a harsh winter. <keyword id="3515858" type="General" weightage="50" keywordseo="flipkart-group" source="Orion">Flipkart Group</keyword> in July last year raised $3.6 billion to grow and advance the digital commerce ecosystem in India. The investment valued the group at $37.6 billion post the money then. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-shrugs-off-weak-global-cues-to-hit-60000/articleshow/95135992.cms">Sensex shrugs off weak global cues to hit 60,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/over-150-million-kids-in-africa-in-the-grip-of-poverty-climate-disaster-report/articleshow/95135176.cms">Over 150 million kids in Africa in the grip of poverty, climate disaster: Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/musk-is-now-twitter-boss-fires-indian-origin-ceo-agrawal-other-top-execs/articleshow/95134427.cms">Musk is now Twitter boss, fires Indian-origin CEO Agrawal, other top execs</a>

Walmart, Netflix partner to expand Hub experience to more viewers

<ul><li><keyword id="80487" type="General" weightage="20" keywordseo="walmart" source="Orion">Walmart</keyword> International CEO said that the US-based retailer is confident that <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> will turn profitable.</li><li>She mentioned that the company has managed to live up to its expectations so far.</li><li>Flipkart is also thinking of ways they can offer software-as--a-service (SaaS), she noted.</li></ul>Walmart International CEO and President Judith McKenna on Wednesday said that the US-based retailer is confident that Flipkart will turn profitable and the company has managed to live up to its expectations so far. She also mentioned that India is Walmart’s biggest market in terms of advertising revenue and the company is looking at leveraging its advertising technology in other markets. Flipkart is also thinking of ways they can offer software-as-a-service (SaaS), she noted, as the e-commerce giant explores new avenues of revenue. “In fact, one of the markets that we are using them [Flipkart] for is Chile. They're building out our ad tech platform for Chile, which is a really interesting development for them,” she said. Walmart acquired Flipkart — the Indian counterpart to e-commerce giant Amazon — in 2018 from founders Sachin and Binny Bansal. The US-based retailer made the acquisition at a valuation of $16 billion, which has now more than doubled to <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$37.6 billion</a>. <cmsannotation type="cmsannotation" annotationid="Flipkart looking to go public with an IPO in the US" comment="subhead" text="Flipkart looking to go public with an IPO in the US">Flipkart looking to go public with an IPO in the US</cmsannotation> Flipkart is now looking to go for an initial public offering (IPO) in the USA. According to media reports, the company expects to make its public debut next year <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">at a valuation of $70 billion</a>. McKenna confirmed this, but refrained from committing to a timeline for the <keyword id="3123061" type="General" weightage="20" keywordseo="flipkart-ipo" source="Orion">Flipkart IPO</keyword>, saying it will make a stock market debut “when the time is right for it”. “And when the time is right will depend on a number of factors, not least the market, but also the business performance. They've hit our deadlines. We wouldn't have invested if we didn't believe they could become profitable in the longer term, and we continue on track for that,” McKenna was quoted as saying in the Baird 2022 Global Consumer, Technology &amp; Services Conference. Flipkart had reported revenue of ₹43,357 crore for the financial year 2021, representing a 25% jump from the previous year. The company’s net loss also narrowed to ₹2,445 crore, representing a 22% decline. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/news/zomato-can-show-ebitda-profitability-in-the-next-three-years-but-only-on-one-condition/articleshow/92095600.cms">Zomato’s path to profitability in the next three years requires two things, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/news/deepinder-goyal-akshant-goyal-here-is-how-much-zomatos-dream-team-earned-since-october-2021/articleshow/92080767.cms">Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021</a>

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Flipkart raises $3.6 billion at a valuation of over $37 billion, to focus on ‘millions of small and medium Indian businesses’

Dearton Thomas Hector

Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years

Rounak Jain

Flipkart and PhonePe complete separation six years after acquisition

Rounak Jain

Walmart, Netflix partner to expand Hub experience to more viewers

IANS

Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans

Kritti Bhalla

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