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Is Walmart Trying To Battle Amazon With Flipkart Acquisition?

Is Walmart Trying To Battle Amazon With Flipkart Acquisition?

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Walmart, trying to battle Amazon on many fronts, just offered up $16 billion for a majority stake in India’s e-commerce giant, Flipkart. Flipkart is the biggest e-commerce company in India, though Amazon is a strong player there too. Walmart surely sees the untapped potential in a country where only 5 to 10 percent of people have ever bought something online, a figure noted by The Economist. But investors were skeptical about Walmart’s move, especially given the pricetag. India’s e-commerce market hasn’t fulfilled early expectations and “as a whole is worth a puny $15bn or so, compared with nearly $500bn in America and double that in China,” as The Economist writes. Plus, Walmart seems constantly to be making incursions into Amazon territory, such as by buying Jet.com. Scott Mushkin, a retail analyst at Wolfe Research, told The New York Times that Walmart seems “to be somewhat Amazon obsessed.” (AdAge)

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