India's Flipkart raises $1.2 bln in Walmart-led funding
The investment is led by Walmart, Flipkart's majority owner, along with a group of existing shareholders, the company said
The logo of Flipkart is seen on the company's office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa
US retail giant Walmart will lead a $1.2 billion investment in its Indian e-commerce unit Flipkart, giving it a valuation of $24.9 billion, Flipkart said on Tuesday.
The investment is led by Walmart, Flipkart's majority owner, along with a group of existing shareholders, the company said.
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