This partnership will be similar to the deal that Walmart did with JD.com in China as it bought a 5% stake in the Chinese ecommerce marketplace for about USD 1.5 billion, businessinsider.in reports.
If the deal goes through, Flipkart will be able to use Walmarts global supply chain and increase its efficiency in procurement, product assortment and further improve its technology platform.
In 2015, Amazons revenue grew by 20% to USD 107 billion (USD 99 billion from online sales, the rest from Amazon Web Services) while Walmarts sales declined by 0.7% to USD 482 billion.
In the Q2 of FY 2017, Walmarts revenues rose 0.5% to USD 120.9 billion while Amazon reported sales of USD 30.40 billion, up 31.1% from the year-ago quarter.
Flipkart, which is backed by Tiger Global, Qatar Investment Authority, DST Global, GIC, Naspers, Accel Partners, Morgan Stanley and T Rowe Price, was valued at USD 11.55 billion in August 2016.
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