- Alphabet’s Shoreline International Holdings gets CCI approval to acquire a stake in Flipkart.
- The investment supports Flipkart’s expansion in e-commerce, fintech, and quick commerce.
- The deal also includes a partnership to enhance Flipkart’s digital infrastructure.
The Competition Commission of India (CCI) has approved an investment by Alphabet’s subsidiary, Shoreline International Holdings LLC, in Walmart-owned Flipkart. Shoreline will acquire shares in Flipkart and partner with one of its subsidiaries to provide certain services.
This investment follows Google’s participation in Flipkart’s funding round in May, where $350 million was raised. The funding increased Flipkart’s valuation to $36 billion and aims to support its growth in e-commerce, fintech, and quick commerce segments, as well as strengthen digital infrastructure through Google Cloud collaboration.
Flipkart, a leading marketplace-based e-commerce platform in India, said Google’s involvement will help modernize its digital systems and serve more customers effectively.
