In a mega deal in India's e-commerce space, global retail giant Walmart Inc on Wednesday announced it was buying 77 percent equity stake in the country's largest e-tailer Flipkart for $16 billion.
The record deal will give Walmart an opportunity to partner with the local leader in growing market, as the e-tailer's leadership team will be supported by investment and technology partners.
After the announcement of the mega-deal, Twitterati went into raptures over Walmart investing in the homegrown giant:
Chetan Bhagat, novelist, congratulated Flipkart calling it a true self-made Indian success story
Congratulations to the Bansals for creating, scaling and finally selling Flipkart to Walmart at multi billion valuations. Takes a lot to do it all in 10 odd years. A true self made Indian success story. Respect.
— Chetan Bhagat (@chetan_bhagat) May 10, 2018
Binny Bansal, co-founder, Flipkart, described the partnership with Walmart as 'delightful'
Kalyan Krishnamurthy, CEO, Flipkart, said the deal between Walmart and Flipkart was a proud moment for India and the Bengaluru based company
— Kalyan Krishnamurthy (@_Kalyan_K) May 9, 2018
Accel India congratulated the Bansals for the 'breakout moment'. Accel Partners had invested in Flipkart
.@Walmart's ~$16B for a ~77% stake in @Flipkart is one of the largest-ever deals for a private, venture-backed company. Congrats to @_sachinbansal, @binnybansal & team! Remarkable development for a co with humble beginnings as we share here: https://t.co/DnL1qb9oT5 #AccelFamily — Accel India (@Accel_India) May 9, 2018
Vijay Shekhar Sharma, founder, Paytm, was proud of Flipkart's 'audacious' achievements
Sachin and Binny continue to make India proud with their audacious achievements ! Cheers to everyone at Flipkart. :rocket:
Chapter 2 begins. https://t.co/iWkIbbz2Nn
— Vijay Shekhar (@vijayshekhar) May 9, 2018
Bhavish Agarwal, co-founder, Ola Cabs, called Sachin Bansal and Binny Bansal, co-founders of Flipkart, the 'original Internet pioneers'
@_sachinbansal and @binnybansal are the original Indian internet pioneers! They’ve inspired me along my own journey and am sure millions of others who look at their story are inspired to build great companies and create impact for India. — Bhavish Aggarwal (@bhash) May 10, 2018
Politicians too took note of the rumble in India Inc. Congress leader Milind Deora wished the Bansals for their future endeavours
— Milind Deora (@milinddeora) May 10, 2018
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Updated Date: May 10, 2018 14:19:39 IST