{"id":31504,"date":"2024-04-20T21:07:10","date_gmt":"2024-04-20T21:07:10","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/20\/flipkart-zepto-deal-talks-drop-out-of-cart\/"},"modified":"2024-04-20T21:07:10","modified_gmt":"2024-04-20T21:07:10","slug":"flipkart-zepto-deal-talks-drop-out-of-cart","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/20\/flipkart-zepto-deal-talks-drop-out-of-cart\/","title":{"rendered":"Flipkart-Zepto deal talks drop out of cart"},"content":{"rendered":"
\"Flipkart-Zepto<\/div>


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Happy Friday! Ecommerce major Flipkart held talks with Zepto for a potential deal. More on that in today\u2019s ETtech Morning Dispatch.<\/p>\n

Also in the letter:<\/span>
\u25a0 Agilitas-Lotto deal
\u25a0 Layoffs at Good Glamm Group
\u25a0 Swiggy integrates Mall with Instamart<\/p>\n

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Exclusive: Flipkart\u2019s talks to buy majority stake in Zepto falter<\/p>\n

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From left: Flipkart CEO Kalyan Krishnamurthy, Zepto cofounders Kaivalya Vohra and Aadit Palicha<\/em><\/p>\n

Ecommerce major Flipkart made an offer to buy a majority stake<\/a> in quick-commerce startup Zepto but the talks fell through. We have all the exclusive details.

Driving the news: <\/span>Flipkart\u2019s on the lookout for an acquisition to bulk up its quick commerce ambitions. After its failed discussions with cash-strapped Dunzo<\/a>, the ecommerce major held talks with Zepto, according to two people in the know. But the talks have not materialised and unlikely to be revived, these people said.<\/p>\n

\"Quick<\/div>\n


Why does it matter?<\/span> Despite the deal not going through, it underscores the importance of the sector and how it has been able to challenge the incumbent ecommerce players. To counter their growing reach, Walmart-owned Flipkart plans to launch its own quick-delivery service in July<\/a>.<\/p>\n

Go deeper:<\/span> Having opted out of a strategic sale, Zepto, instead, is closing a fresh funding round from financial investors. It is expected to have secured over $200 million in commitments from existing investors and former YC Continuity Fund chief Anu Hariharan\u2019s new venture Avra.<\/p>\n

Sources said Zepto is in discussions with General Atlantic and Abu Dhabi Investment Authority (ADIA), along with others. The Mumbai-based startup is currently scouting for a lead external investor, multiple people familiar with the matter said.

Financing round: <\/span>As talks with Flipkart haven\u2019t moved ahead. Zepto is likely to close a financial round valuing it at around $2.5 billion. That\u2019s nearly double from its last round valuation last year.<\/p>\n

Zepto has told investors it can stitch up a round of as much as $500 million which may include a secondary share sale. Glade Brook Capital, Nexus Venture Partners are among the existing investors who have offered cash commitments to Zepto.<\/p>\n

Read our extensive coverage on the rise of quick-commerce:<\/span><\/p>\n

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Infosys Q4 net profit up 30%; company buys German tech firm<\/p>\n

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\"Infosys<\/div>\n

Salil Parekh, CEO, Infosys<\/em><\/p>\n

Infosys, India\u2019s second-largest IT services company, Thursday said fourth-quarter net profit climbed 30% on year <\/a>due to gains in non-core income.

Financial highlights:<\/span><\/p>\n