In the e-commerce sector’s biggest deal yet, retail giant Walmart paid USD16 billion to acquire a 77% stake in Flipkart – one of India’s most successful e-tailers.
With India’s e-commerce sector set to grow four times by 2023, Walmart is looking at supporting Flipkart’s ambition to become a publicly-listed subsidiary in the future.
However, the revenue growth rate for Flipkart in 2016-17 was only 29%, a far cry from the 50% growth rate of the previous year.
Will Walmart’s deal with Flipkart create an Indian Taobao?
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