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Flipkart Raises $3.6 Billion in Latest Funding Round

Amid increased scrutiny and regulations from the Indian government, Walmart’s Flipkart delivered some good news this week: the e-commerce conglomerate raised $3.6 billion in its latest round of funding, a round that many are calling a prelude to an initial public offering. The company had initially set out to raise around $1 billion before the rumored IPO. Flipkart is now valued at $37.6 billion.

“Flipkart is a great business whose growth and potential mirrors that of India as a whole — that’s why we invested in 2018 and why we continue to invest today,” said Judith McKenna, President and CEO of Walmart International, in a statement.

Read the full story at TechCrunch.