Flipkart has ‘lived up to expectations so far’, says Walmart CEO

Walmart International CEO and President Judith McKenna stated on Wednesday that the US-based retailer is confident that Flipkart will become profitable and that the company has met its expectations thus far.

She also stated that India is Walmart's largest market in terms of ad revenue, and the company is looking to leverage its advertising technology in other markets. Flipkart is also considering ways to offer software-as-a-service (SaaS), she said, as the e-commerce giant looks for new revenue streams.

She said, “In fact, one of the markets that we are using them [Flipkart] for is Chile. They're building out our ad tech platform for Chile, which is a really interesting development for them."

Walmart bought Flipkart, the Indian equivalent of Amazon, from founders Sachin and Binny Bansal in 2018. The US-based retailer paid $16 billion for the acquisition, which has since more than doubled to $37.6 billion. Flipkart is now considering an initial public offering (IPO) in the United States. According to media reports, the company plans to go public next year with a $70 billion valuation.

McKenna confirmed this, but declined to commit to a timeline for the Flipkart IPO, saying it will go public "when the time is right."