Walmart Inc. may invest $25 bn in Tata Group’s super app, according to people familiar with the matter said.
According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report.
The news comes as Reliance Industries, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co and Silver Lake Partners by selling stakes in its digital business Jio Platforms.
The Walmart investment could touch $20 billion to $25 billion eventually for a large stake in the proposed super app that will be hosted under a Tata Sons unit, according to the press report.
The super app, which is scheduled to be launched in India in December or January, will bring together Tata's consumer business under one channel offering a wide range of products in the retail space, the reports said.
