Commerce giant India’s largest online retailer
Google’s parent company Alphabet is in talks to invest in Indian e-commerce company Flipkart alongside Walmart, according to two people familiar with the deal.
Walmart announced on Tuesday it would take a 77 percent stake in the company for $16 billion. Of that $16 billion, $2 billion was “new equity funding” intended to spur growth.
Walmart said that it was also in discussions with “additional potential investors” to join the round, though it would retain majority ownership. It did not mention any possible investors by name.