Google will buy minority stake in Flipkart, says the e-commerce company

E-commerce company Flipkart on Friday (May 24) said that Internet provider major Google has proposed to invest in the company to buy a minority stake in the latest round of financing led by Walmart Group.

“As part of the latest round of financing led by Walmart, Flipkart today announced that it will add Google as a minority investor, subject to regulatory and other customary approvals from both parties,” Flipkart said in a statement.

Also read: Fortis Healthcare will add 400 beds this year and plans double-digit revenue growth

“Google’s proposed investment and cloud collaboration will help Flipkart expand its business and accelerate the modernization of its digital infrastructure to serve customers across the country,” Flipkart said.

However, the e-commerce company did not disclose the amount Google proposes to invest or details of the fundraising.