Walmart’s majority-owned Flipkart has raised $3.6 billion, the company said, as it battles Amazon for a slice of India’s growing e-commerce market and prepares for a possible initial public offering next year. The company was valued by investors at $37.6 billion. SoftBank, which had earlier sold its stake to Walmart, came back in as an investor. Other investors included GIC, Canada’s pension...
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The Briefing Markets Economy
Snap Sends Shiver Through Ad Stocks
Uh oh. Snap’s warning this afternoon that its second-quarter revenue and profits will be below what it projected just a few weeks ago, thanks to a faster than expected deterioration in macroeconomic conditions, is an ominous signal for the ad market. Snap had outperformed many of its digital ad peers, most obviously Meta Platform, Twitter and Pinterest, in revenue growth in recent quarters. If...
Zoom Shares Jump After Strong Earnings Report, Forecast
Klarna to Cut 10% of Global Workforce
Mark Zuckerberg Sued by D.C. Attorney General Over Cambridge Analytica Scandal
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