*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).
The NASDAQ’s Executive Vice President of Corporate Platforms breaks down why you’ll probably see a lot of companies going public in September and December.
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
