Google today made a surprise by investing $350 million in an e-commerce company in India, Flipkart. This together values the Flipkart company at around $37 billion.
Flipkart has already been taken over its majority stake by Walmart. This new investment by Google is part of an additional investment led by Walmart.
Along with this, Google will also offer Google Cloud services to Flipkart – thus ending the exclusive use of the Microsoft platform before.
In India, Flipkart competes closely with Amazon in the e-commerce arena, and has a high number of users. In addition, it is also said that Flipkart will do a public listing on the stock exchange, thus bringing returns to the company's investors. It is estimated that Flipkart controls nearly 48% of the e-commerce market in India.