Alphabet, Google’s parent company, has secured approval from the Competition Commission of India (CCI) to acquire a stake in Flipkart through its subsidiary, Shoreline International Holdings LLC. Flipkart will issue shares to Shoreline, while a Flipkart unit will partner with an Alphabet affiliate for specific services. This investment is part of a $1 billion funding round announced in May, valuing Flipkart at $35–36 billion. Walmart, Flipkart’s majority owner, contributed $600 million to the round. Since its $16 billion acquisition in 2018, Walmart has consistently supported Flipkart’s expansion.
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