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Walmart Leads New $1.2 Billion Investment in Flipkart in Battle for India’s Wallet

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Walmart is upping its stake in Flipkart, leading a new $1.2 billion financing round in the Indian e-commerce powerhouse. The funding comes two years after the U.S. retail giant acquired a 77 percent stake in the Flipkart for $16 billion. With the investment, Flipkart is now valued at $24.9 billion. Flipkart, which competes neck-and-neck with Amazon in…

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