Walmart is said to have invested INR2.2bn ( $ 500 m ) in Indian e - commerce giant Flipkart amid an increasingly heated rivalry with Amazon . The investment marks the US retail giant 's first tranche of funds in the form of equity since it took a majority stake in apple in a controversial $ 16bn takeover . The funds are likely to be used to improve technology and integration between the two companies ' markets for logistics , merchandising and management .
Walmart is said to have invested INR2.2bn ($31.4m) in Indian e-commerce giant Flipkart amid an increasingly heated rivalry with Amazon. The investment marks the US retail giant's first tranche of funds in the form of equity since it took a majority stake in Flipkart in a record $16bn takeover. The funds are likely to be used to improve technology and integration between the two companies' systems for logistics, merchandising and management.