News Update

ADQ In Discussions To Pump $400-500 M In Flipkart: Sources

• ByStartupStory     |    June 15, 2021

Abu Dhabi Developmental Holding Company, ADQ in discussions to infuse $400-500 million in Flipkart, according to sources. Further, the sources also disclosed The transaction could value Flipkart between $35-40 billion. Flipkart is also in discussions with SoftBank Group and some others as investors are keen on tapping into the digital commerce space. In regard to ADQ in discussions to infuse $400-500 million in Flipkart did not respond to queries, while comments could not be immediately elicited from ADQ.

After its $16 billion investment in Flipkart for a 77 percent stake in 2018, Walmart had led a $1.2 billion funding round in 2020 that valued the ecommerce company at $24.9 billion. Flipkart is also said to be working on launching an initial public offering (IPO) next year.

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