Walmart Global Tech builds software and data systems for Walmart's global retail business from technology centres in Bengaluru and Chennai. Walmart also owns a controlling stake in Bengaluru based ecommerce company Flipkart.
Ownership and structure
Walmart controls Flipkart, having bought 77 percent in 2018, raised its stake to 81.3 percent that November and bought further shares including a co founder's remaining stake in 2024. Walmart Global Tech India is its technology arm in the country.
What India does for Walmart Global Tech
India is home to Walmart's Flipkart and PhonePe holdings and to a large technology centre that builds systems for Walmart's global retail business.
Investment and deals
In 2018 Walmart paid US$16 billion for a 77 percent stake in Flipkart and provided US$2 billion in equity funding. In December 2023 it committed US$600 million to a US$1 billion Flipkart fundraise.
Walmart Global Tech's India business
Walmart Labs India was renamed Walmart Global Tech India in August 2020. Walmart agreed to buy a 77 percent stake in Flipkart for 16 billion dollars in May 2018 and completed the deal in August 2018.
Walmart now holds about 85 percent of Flipkart. Walmart ran 28 Best Price Modern Wholesale stores in India as of October 2022.
Key moves in India
- 2006: Walmart announced a joint venture with Bharti Enterprises for wholesale operations in India in November.
- 2009: The first Walmart backed Best Price store in India opened in Amritsar in May.
- 2011: Walmart began hiring for a Bengaluru technology lab to work on its ecommerce platform.
- 2013: Walmart and Bharti ended their partnership in October to run their businesses separately.
- 2018: Walmart completed its US$16 billion purchase of a 77 percent stake in Flipkart in August.
- 2020: Walmart Labs India was renamed Walmart Global Tech India in August, and Flipkart acquired Walmart India's Best Price wholesale business.
Where it operates
Walmart Global Tech runs its India business from Bengaluru. It also has a presence in Chennai.
At a glance
- Home country: United States
- Global headquarters: Bentonville
- Sector: Technology & AI
- Business: Internet
- Role of India: Investment portfolio, R&D and engineering hub, Global delivery and operations, Sales market
- India entity: Walmart Global Tech India
- India head office: Bengaluru
- India offices: Bengaluru, Chennai
- India headcount: Not available
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