Walmart to Invest $25 bn in Tata Group’s ‘Super App’
Walmart Inc is in talks with Tata Group for a potential investment of up to $25 billion in the Indian salt-to-software conglomerate's new "super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter.
According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report.
The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co, and Silver Lake Partners by selling stakes in its digital business Jio Platforms.
The Walmart investment could ...