Google Invests in Flipkart: Minority Stake & Cloud Collaboration
May 24, 2024 17:05
Google has proposed an investment in Flipkart, acquiring a minority stake during the company's fresh funding round. The investment aims to help Flipkart expand its business and modernize its digital infrastructure.
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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.