India is the next frontier in eCommerce

Our investment in Flipkart provides an opportunity to partner with the

local leader in the market to transform how people shop

India: A Key Global Growth Market for Walmart

9.4% CAGR GDP GROWING

One of the growth over the past middle class

WORLD’S
10 years

LARGEST India eCommerce projected to grow

443 MILLION
and fastest 4X FASTER than total retail Millennials
growing markets through 2023

Flipkart: A Market Leader in Indian eCommerce

54 million 261 million

active users on units sold in last year
Annual GMV of Flipkart brands

$7.5 billion Flipkart group maintains leading position in

fast growth categories including fashion,
mobile, electronics and large appliances

The combined capabilities of Flipkart and Walmart Primed to capture future growth as the
will create India’s leading eCommerce platform eCommerce market continues to rapidly expand

Flipkart + Walmart
We’re pleased to have the opportunity to work alongside Tencent, Tiger Global,
Walmart will pay Microsoft and co-founder and CEO Binny Bansal
approximately
The founders and local executive team will continue to manage the business,
$16 billion given their local knowledge, relationships and expertise, with Walmart’s support
for an initial stake of
approximately 77 Walmart’s investment includes $2 billion of new equity funding, which will help
percent in Flipkart. Flipkart accelerate growth in the future

Source:
1. Cebr Global's WELT, 2015
2. Compound Annual Growth Rate - Boston Consulting Group, 2018
3. Boston Consulting Group, 2017
4. Goldman Sachs, 2018
5. Redseer Management 2017
6. Flipkart, 2018