Google has announced to buy stake in e-commerce company Flipkart. Walmart group company Flipkart gave this information on Friday. As part of the new fund raising round led by Walmart, Flipkart announced the addition of Google as a minority investor. Now regulatory and other approvals are required from both the parties for this deal. However, Flipkart did not give any details of the amount proposed to be invested by Google. Along with this, he also did not disclose the size of the funds he was raising.
What did Flipkart say
“Google’s proposed investment and its cloud collaboration will help Flipkart expand its business and advance the modernization of its digital infrastructure to serve customers across the country,” Flipkart said. According to ET report, Flipkart plans to sell stake in Google in a fund raising of $300-350 million. After this fund raising, the value of Flipkart is estimated at around $35-36 billion.
Hearing on Play Store billing policy postponed till July 5
Meanwhile, Insolvency Appellate Tribunal NCLAT on Friday postponed to July 5 the hearing on the petitions filed against Google regarding its Play Store billing policy. A two-member bench of the National Company Law Appellate Tribunal (NCLAT) after a brief hearing on these petitions directed the matter to be listed on July 5 after the summer vacations.
Let us tell you that Indian Broadcasting and Digital Foundation (IBDF), Indian Digital Media Industry Foundation, People Interactive India, which operates Shaadi.com, and Mebigo Labs, which operates Kuku FM, filed a petition before NCLAT against the Play Store billing policy. Is.
