May 10th, 2018
Walmart To Acquire Flipkart for $16 Billion
There’s no question ecommerce has permanently changed the course of business as we know it. Brick and mortar retail firms have been dropping like flies in recent years, especially those who failed to adapt to the new way of doing business. Some brick and mortal firms like Walmart have been pulling out all the stops in an effort to gain market share and relevance in the global ecommerce dynamic.
In fact, Walmart just announced its acquisition of Indian ecommerce firm Flipkart for $16 billion, which is essentially a 77% stake. You can read more about it here on Reuters.com. Walmart is clearly serious about competing in the global ecommerce game as this deal represents the largest acquisition in their history.
Traditionally Walmart hasn’t fared very well outside the U.S., so time will tell if this acquisition was a prudent business move or not. If anything, it indicates Walmart’s understanding that times are changing and those who fail to evolve will be left by the wayside in the global economy. Better late than never!