Alphabet’s Google will pick up a minority stake worth $350 million in Walmart-backed Flipkart, valuing the Indian e-commerce firm at $37 billion, a source with direct knowledge of the matter told Reuters.
Google and Flipkart were not immediately available to confirm the value of the investment.
The tech giant will join in as an investor in the latest funding round for the Bengaluru-based company, Flipkart said in a statement.
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