Walmart is selling its India store chain to its local ecommerce subsidiary, Flipkart, bolstering Flipkart’s wholesale arm and strengthening its market position amid growing competition with Amazon. The acquisition will allow Flipkart to take advantage of Walmart’s 28 cash-and-carry clubs, which it runs under the Best Price brand. The terms of the deal were not disclosed. Best Price has more than...
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Chatbot Startup Character Seeks $250 Million, Testing Investor Appetite for AI
Character, an AI chatbot startup founded by two former Google researchers, has told investors it wants to raise as much as $250 million in new funding, according to two people with direct knowledge of the matter. The pitch will test investors’ appetite for machine-learning startups as Microsoft’s multibillion-dollar deal with OpenAI casts a halo over the sector. A funding round of...
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