Report: Walmart eyes $20 billion investment into Indian app
TikTok may not be the only digital platform with overseas ownership that Walmart plans to invest in.
According to Indian newspaper Mint, Walmart is negotiating with Indian multibusiness conglomerate Tata Group to make an investment of up to $20 billion-$25 billion USD into Tata’s upcoming “super app” platform. The super app, which will reportedly be worth $50 billion-$60 billion USD, is intended to provide a wide array of consumer-focused services, including retail, healthcare, insurance, finance, and education.
Walmart could potentially leverage its recent $1.2 billion into major Indian e-commerce retailer Flipkart as part of the deal, strengthening its position in the country’s digital retail market against Amazon, which has a major presence there. Walmart is also currently attempting to participate with Oracle in an investment into the U.S. business of Chinese short video platform TikTok.
Tata and Walmart did not reply to requests for comment.