Walmart To Buy 73% of India's Flipkart For Up To $16B; Alphabet Might Put in $3B: FactorDaily (factordaily.com) 28
Here's an interesting development about to take place in India. From a report: Walmart Inc. has decided to go all in on its deal to acquire Flipkart in a deal sealed on Thursday to buy 73% of the Indian ecommerce company in one of the biggest mergers and acquisitions in the country -- spending at least $14.6 billion in the cash-and-stock buyout. One source said Flipkart was valued at $20 billion, while two others said Walmart, the world's largest retailer, had put the target company's value at as much as $22 billion, a price at which it will spend more than $16 billion. Alphabet Inc., the parent company of search giant Google, is said to be participating in the deal with a $3 billion investment. Kalyan Krishnamurthy will stay on as chief executive of Flipkart.
Japan is laughing all the way to the bank (Score:2, Insightful)
The Japanese company SoftBank, just made a purchase of a 30% of Flipkart last August (2017) for $2.5 Billion
Within 10 months, SoftBank made an over 100% profit over that investment when it was sold to Walmart
walmart.com is a terrible website (Score:2, Interesting)
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Do no expect a company that has no respect for it's employees to respect it's customers. They will treat both as badly as they can get away with. For employees unionise or die (that is literally accurate not for all but certainly for the unlucky some) for customers probably better off buying elsewhere https://www.theacsi.org/index.... [theacsi.org] the only companies doing worse have disappeared.
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Do no expect a company that has no respect for it's employees to respect it's customers.
Are you talking about Amazon or Walmart? :)
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i refuse to shop there anymore, because their website is such a screwed up kludge,
Looks like walmart failed to learn the lesson of Sears. How long before Amazon is opening B&M stores that compete directly with Wal-Mart and puts them out of business as a result? I give it a decade.
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walmart.com has less than half the stuff amazon.com has and the website is terrible, if you select to shop for only items at your local store they dont omit the only only stuff, so if you want to see what is in the store before you get in the car and drive to the store it is pointless, i refuse to shop there anymore, because their website is such a screwed up kludge,
Try the Android app.
It will not only tell you what's in store (easily, there are two tabs at the top of your search results), it will tell if it's in stock and what aisle it is in (like "G22").
Like jet.com? (Score:3)
Don't tell us (Score:1)
What the fuck flipkart is or anything.
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I thought the same thing. Slashdot editing is pretty bad. Apparently it's some kind of online shopping website: Flipkart (Wikipedia) [wikipedia.org]
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Owned by an Indian company. No wonder it looks like cheap flashy shit.
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Whats Walmart? (Score:2, Insightful)
Next you will be asking for a description of Walmart. Not everyone lives in the US. Flipkart is 20-30 times bigger than Walmart in India and bigger than Amazon as well. Google has tried breaking into the Indian market with Google Wallet and has had its ass handed to it in the fintech field by PayTM. And India allows 100% foreign ownership in tech so its not a protected market like China. Its just that there are folks in India who didnt leave to come to Silicon Valley to run Google and Microsoft. So there ar