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Doris Yu · · 1 min readWalmart to pour up to $25b into Tata group’s super app
According to a source, the Walmart investment could eventually reach up to US$25 billion in exchange for a large stake in the proposed super app, which will be hosted under a Tata Sons subsidiary. Should it materialize, it would be the largest deal in India’s retail space, the report added.
Walmart and the Tata group might run the super app as a joint venture, which could attract more foreign investors.
The super app may include a platform that will present Flipkart’s offerings from Walmart and the entire retail product franchise housed by the Tata group, said one of the sources. “On the other hand, Flipkart could get to be powered by Tata.”
The other source noted that the new entity, scheduled to be launched in India either in December or January, could be valued at around US$50 billion to US$60 billion.
This development comes after Facebook and Indian conglomerate Reliance Industries were reportedly looking to create a WeChat-like super app that will combine social, digital payments, gaming, and flight and hotel bookings, among other features.
Editing by September Grace Mahino
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