Indian e-commerce firm Flipkart raised $1.2 billion in an investment led by its majority owner Walmart Inc., increasing the company's valuation to $24.9 billion. In May 2018, Walmart purchased a stake of 77% for $16 billion in Flipkart. The acquisition was marked as one of the most successful exits by an Indian startup, valuing the e-commerce retailer at more than $20 billion.
