courtesy: rediff
Walmart owned Flipkart has welcomed Google on board as a minority investor as a part of the funding round led by the US based retail giant. Flipkart stated that Google’s investment deal is subject to regulatory approvals as well as terms that both parties need to agree upon.
Reportedly, the ecommerce giant has raised $350 million from the tech giant, however, the stake or the valuation at which Google has invested is not yet revealed.
“Google’s proposed investment and its Cloud collaboration will help Flipkart expand its business and advance the modernisation of its digital infrastructure to serve customers across the country,” read statement by Flipkart.
This is a developing story. More updates are awaited.
