Walmart's Flipkart in early talks to raise $1 billion - ET

FILE PHOTO: The logo of India's e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration

BENGALURU (Reuters) - Walmart Inc-owned Indian e-commerce firm Flipkart is in early talks with investors to raise at least $1 billion, the Economic Times reported https://economictimes.indiatimes.com/tech/funding/flipkart-plans-a-big-billion-day-with-new-investors/articleshow/82533913.cms on Tuesday, citing people familiar with the matter.

Flipkart's fund raise plans come at a time when the company is considering an initial public offering (IPO), while it battles players including Amazon.com's local unit and billionaire Mukesh Ambani-owned Reliance Retails' JioMart amid a pandemic that has seen demand for online services skyrocket.