*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).
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
