US consumer giant Walmart Inc.—which has been waiting to launch the much-anticipated initial public offering of the online marketplace it acquired for $16 billion six years ago—has had its patience tested. It's unlikely to get Flipkart out the door next year; a 2026 IPO may be a more reasonable expectation, with a little diplomatic help from the incoming government in Washington.
The business side of things is not the reason for the delay. Flipkart is the country's largest e-commerce player, ahead of Amazon.com Inc. The homegrown app lacks the consumer-service finesse of its rival, but its sheer reach across a continent-sized geography gives it the heft that took the likes of Unilever Plc a century to build.
This story is from the December 19, 2024 edition of Financial Express Kolkata.
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This story is from the December 19, 2024 edition of Financial Express Kolkata.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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