Thursday, March 30, 2023

Accel, Tiger Global looking to sell stake in Flipkart for $1.5B, says report

Accel Partners and Tiger Global, one of the investors in Walmart-owned e-commerce giant Flipkart, are reportedly looking to sell their remaining stake in Flipkart to the parent company for about $1.5 billion.

According to an ET report, if the transaction happens, this would increase Walmart’s stake in Flipkart by 5%. Currently, The US-based Tiger Global and Accel own 4% and 1% stakes in an e-commerce company Flipkart, respectively.

Flipkart raised $3.6 billion at a $37.6 billion valuation from SoftBank, Tiger Global, Walmart, and others to make deeper investments in its supply chain, technology, and infrastructure to meet the growing demand for digital commerce in India in 2021.

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