Internet giant Google has proposed to invest in e-commerce giant Flipkart for a minority stake in the company's new fundraising round, the Walmart Group company said on Friday.
“As part of its latest funding round led by Walmart, Flipkart today announced that Google will acquire a minority investor, subject to regulatory and other customary approvals by both parties,” Flipkart said in a statement.
The tech giant is reportedly planning to invest $300-350 million in Flipkart.
With Google's proposed investment and cloud collaboration, Flipkart will be poised to scale its operations, modernize its digital infrastructure, and elevate customer experience across the country.
“Google's proposed investment and cloud collaboration will help Flipkart accelerate its business expansion and modernize its digital infrastructure to serve customers across the country,” Flipkart said in a statement.
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