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Walmart spent $3.5 billion to buy Flipkart shares from Tiger Global, Accel, Binny Bansal, others: Filing

Economic Times

Economic Times · 1y ago

Walmart spent $3.5 billion to buy Flipkart shares from Tiger Global, Accel, Binny Bansal, others: Filing

Walmart, the parent company of Flipkart, has revealed in a US Securities and Exchange Commission (SEC) filing that it paid $3.5 billion to acquire stakes from non-controlling minority shareholders. This transaction includes the purchase of shares from early Flipkart investors Tiger Global and Accel, who completely exited the company. Walmart also bought the residual stake of Flipkart co-founder Binny Bansal and other minority shareholders, increasing its shareholding in Flipkart to 80.5%. Tiger Global reportedly registered $3.5 billion in profits from its Flipkart investment.

Related News

Flipkart Co-founder Binny Bansal exits startup, sells stake to Walmart: Reports

Money Control

Money Control · 1y ago

Flipkart Co-founder Binny Bansal exits startup, sells stake to Walmart: Reports

According to reports from Moneycontrol and ET, Binny Bansal, one of the co-founders of Flipkart, has sold his stake to US retailer Walmart and exited the e-commerce company. Sachin Bansal, the other co-founder, had previously exited in 2018 by selling his entire stake to Walmart. Earlier investors Tiger Global and Accel have also divested their stakes to Walmart, which previously held over 77% of Flipkart.

Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal

Economic Times

Economic Times · 3m ago

Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal

Sachin Bansal, Flipkart cofounder, expressed his unhappiness after leaving the company in 2018, describing it as an unplanned exit. Despite being financially successful, Bansal felt discontent following the sale of his and his cofounder Binny Bansal's stakes to Walmart. This sentiment was noted by Paytm's Vijay Shekhar Sharma. After exiting Flipkart, Bansal founded Navi, a financial services company. He shared these reflections at Startup Mahakumbh 2025 in Delhi.

Binny Bansal resigns from Flipkart board citing conflict with new venture

Economic Times

Economic Times · 1y ago

Binny Bansal resigns from Flipkart board citing conflict with new venture

Binny Bansal, co-founder of Flipkart, has resigned from the board of directors citing a conflict of interest with his new venture. Although the specific details of his new venture remain undisclosed, this move comes as a surprise as Bansal had stepped down as CEO of Flipkart just a year ago following allegations of personal misconduct. His departure from the board signifies a further distancing from Flipkart, which was acquired by Walmart in 2018.

Binny Bansal’s Three State Ventures funds new startup OppDoor

Economic Times

Economic Times · 1y ago

Binny Bansal’s Three State Ventures funds new startup OppDoor

Flipkart founder, Binny Bansal, has invested nearly $2 million in his new venture, OppDoor, through his venture fund, Three State Ventures. OppDoor is a software services platform that aims to assist emerging online retail brands in expanding globally. The investment was made in multiple tranches over the past few months, with the latest cash infusion occurring in February. Bansal has been using capital from the sale of his Flipkart shares to fund his new ventures. OppDoor is currently providing ecommerce services to US brands on Amazon in international markets.

Flipkart co-founder Binny Bansal invests in public markets fund

VCCircle

VCCircle · 1y ago

Flipkart co-founder Binny Bansal invests in public markets fund

Flipkart co-founder and billionaire Binny Bansal has made an investment in an alternative investment fund that focuses on publicly listed Indian companies. Since his exit from Flipkart in 2018, Bansal has been actively investing in startups and launching new ventures. His latest investment in the public markets fund showcases his interest in diversifying his investment portfolio.

Binny Bansal’s Three State Ventures Backs His New Startup OppDoor

Inc42 · 1y ago

Binny Bansal’s Three State Ventures Backs His New Startup OppDoor

Binny Bansal, co-founder of Flipkart, has invested $2 million (INR 16.5 crore) into OppDoor through investment vehicle Three State Ventures. OppDoor is a SaaS platform that assists e-commerce companies with expanding into new regions, offering services in advertising strategies and enhanced catalogues. Bansal resigned from the board of Flipkart due to a conflict of interest with OppDoor. Despite not operating in India, OppDoor serves clients in several countries. Bansal has also invested in other startups and launched B2B startup XTo10X Technologies.

Flipkart founder Binny Bansal may put $25-30 million more in Ankit Nagori’s Curefoods

Economic Times

Economic Times · 1y ago

Flipkart founder Binny Bansal may put $25-30 million more in Ankit Nagori’s Curefoods

Flipkart founder Binny Bansal may increase his investment in Curefoods, a startup founded by Nagori brothers. Curefoods focuses on delivering fresh produce directly from farmers to consumers. Bansal had previously invested $1.75 million in the startup and is now considering doubling down on his investment to support the company's growth and expansion.

Trucking unicorn BlackBuck to raise Rs 550 cr from IPO

The Arc Web

The Arc Web · 1y ago

Trucking unicorn BlackBuck to raise Rs 550 cr from IPO

BlackBuck, a digital trucking platform, is filing for an IPO to raise ₹550 crore, adding to an existing investor sale. Valued at $1 billion in 2021, investors like Flipkart, Accel, Tiger Global, and Sands Capital are partially exiting. Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramaniam B are selling a 2.3% stake. BlackBuck, backed by IFC, Tribe Capital, and Peak XV Partners, has raised $359 million to date.

Walmart buys out $1.4 billion stake in Flipkart from Tiger Global

Reuters

Reuters · 1y ago

Walmart buys out $1.4 billion stake in Flipkart from Tiger Global

Walmart has acquired Tiger Global's stake in Flipkart for $1.4 billion, leading to a valuation of $35 billion for the Indian e-commerce company. Previously valued at nearly $38 billion in 2021, Flipkart's valuation was adjusted internally after its separation from PhonePe. In 2018, Walmart had purchased a 77% stake in Flipkart for $16 billion.

Curefoods to raise debt from Blacksoil and Binny Bansal

Entrackr

Entrackr · 4m ago

Curefoods to raise debt from Blacksoil and Binny Bansal

Exclusive: Curefoods to raise debt from Blacksoil and Binny Bansal Cloud kitchen startup Curefoods is raising Rs 56.4 crore (approximately $6.6 million) in debt, led by BlackSoil Group and with participation from existing backer Binny Bansal. This will be the first debt round for the Bengaluru-based firm this year. The board at Curefoods has passed a special resolution to issue 1,000 non-convertible debentures at an issue price of Rs 5,00,000 each to BlackSoil, raising Rs 50 crore, and 595 compulsory convertible debentures to Binny Bansal worth Rs 6.4 crore, according to a regulatory filing accessed from the Registrar of Companies (RoC). The proceeds will be used for the company's working capital requirements and business expansion, as per filings. Curefoods is a cloud kitchen platform operating brands such as EatFit, Sharief Bhai, Olio Pizza, Krispy Kreme, Nomad Pizza, and others. Currently, it runs over 100 kitchens in over 200 locations in India. According to startup data intelligence platform TheKredible, Curefoods has raised $125 million across rounds from the likes of Binny Bansal-backed Three State Capital, Iron Pillar, and Chiratae Ventures, among others. Curefoods has also raised Rs 37 crore from Landmark Group in February via equity. Curefoods demonstrated notable financial performance in FY24, reporting a surge of over 50% in operating revenue to Rs 585 crore, while reducing losses by 50% to Rs 172.6 crore during the same period. The Ankit Nagori-led firm is reportedly planning to launch its $300–400 million initial public offering (IPO) in the latter part of FY26.

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