Flipkart fund raise
https://www.reuters.com/business/retail-consumer/indias-flipkart-get-600-mln-walmart-under-new-fundraise-2023-12-21/ Flipsters in grapevine, where is this capital getting consumed? Is it all for new businesses (clear trip, grocery etc)?
Both Flipkart and PhonePe are at record losses, even with high growth in revenue.
Is this just to push valuation for imminent IPO?
Brutallyhonest
Stealth
9 months ago
Walmart is not funding them anymore?
Wal-Mart is infusing money. I was more curious about the use of proceeds.
Earlier there was a talk of IPO @ $50B
Maybe they want to delay IPO and use the cash cushion to turn more attractive.
At the end of article they do mention that they want to raise their IPO valuation. So anything which will help that
