*By Jacqueline Corba*
The Indian e-commerce company Flipkart accepted a $15 billion bid from a group led by Walmart, striking a blow to Amazon's online supremacy in India, according to a report in The Wall Street Journal and Bloomberg.
Flipkart's board of directors approved the transaction just days after Amazon made its own offer, [The Wall Street Journal's](https://www.wsj.com/articles/walmart-seeking-to-buy-stake-in-indian-e-commerce-giant-flipkart-1525437107) Sarah Nassauer said in an interview Friday with Cheddar. The deal, Walmart's biggest in nearly two decades, would give the retail giant a 75 percent stake in Flipkart.
"Amazon has publicly said they want to make a go of it in India, so I'm sure that's playing into their thinking," Nassauer said, adding that there are still a lot of "ifs."
India is expected to drive 30 percent of Amazon's revenue growth over the next three years, according to a recent Morgan Stanley analyst report. And the Indian e-commerce market is expected to be worth $200 billion by 2026, with Walmart and Amazon eager to capture as much of that business as possible. Flipkart ー started by two former Amazon employees in 2007 ー was Walmart's way in, said Nassauer.
"This sets them both up to be in direct competition there and give it a real try," she said.
Shares of Walmart closed up 1.5 percent on Friday.
For full interview, [click here](https://cheddar.com/videos/walmart-taking-on-amazon-in-flipkart-deal).
President Joe Biden and Chinese President Xi Jinping have discussed Taiwan, artificial intelligence and security issues in a call meant to demonstrate a return to regular leader-to-leader dialogue between the two powers.
April is Earth month, and while the green revolution might feel far away, the founder of climate VC Siam Capital says it’s on it’s way, and, even better: it won't cost you more.
From snow in April to heatwaves in December, it’s hard to plan a trip in a climate change world. Startup Sensible Weather thinks weather-based travel reimbursements are the solution.
Between corporate debt and the widening gap between ‘the haves and the have nots,’ there are reasons to be cautious about the economy, even with interest rate cuts on their way.
If the A.I. hype hasn’t given you enough of a reason to be excited (and a little terrified), the CEO of Zapata AI says the next frontier is designing bridges or creating pharmaceutical drugs.
Stocks are near record highs, inflation is moderating, and analyst Deiya Pernas is 'optimistic' the U.S. is heading for a soft landing without a recession – which is good news for your wallet.
Google co-founders Larry Page and Sergey Brin loved pulling pranks, so much so they began rolling outlandish ideas every April Fools' Day not long after starting their company more than a quarter century ago.
