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Walmart Gains eCommerce Edge Over Amazon in India – PYMNTS.com

Walmart has won a rare eCommerce victory over Amazon thanks to its Indian business.As the Financial Times (FT) reported Saturday (May 20), Walmart’s $16 billion purchase of majority ownership of Indian online retailer Flipkart in 2018 was initially criticized, but Walmart has been vindicated.“Did Walmart overpay for Flipkart at that time? Yes. But were they able to get value for their money in the subsequent years? Yes,” Abhishek Goyal, co-founder of data firm Tracxn and a former executive at Accel Partners, Flipkart’s first institutional investor, told the FT.“If you look at the global markets, there was no other mature eCommerce company that existed which could help Walmart compete with… 

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