globebingo| Google will invest $350 million in Flipkart at a valuation of $37 billion

Sina Technology News Beijing time on the evening of May 24globebingo, people familiar with the matter said todayglobebingoGoogle will invest in Wal-Mart's Indian e-commerce platform Flipkartglobebingo.50 million US dollars and obtained a minority stake, valuing it at approximately US$37 billion.

Google and Flipkart have not commented on the exact value of the investment.

But Flipkart confirmed in a statement that Google will join its latest funding round. This round of financing will be led by Wal-Mart, Flipkart's largest shareholder, while Google will receive a minority stake.

Flipkart also said in the statement: "Google's investment and cooperation in cloud computing will help Flipkart expand its business and modernize its digital infrastructure to better serve customers."

In December 2023, a spokesperson for Flipkart confirmed that Wal-Mart would inject $600 million into the company as part of a $1 billion financing.

Since Wal-Mart invested in Flipkart, the company has been seen as a potential target for an IPO. Earlier this month, Wal-Mart executives also said they were looking for the right time for Flipkart's IPO.