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Chinese EV Startup Xpeng set for $4 Billion valuation amidst targeted $600 million raise

image credit : Xpeng

Chinese electric car startup Xpeng Motors is set to reach a $4 Billion valuation even before it begins official sales of its vehicles with Bloomberg reporting of the 4 year old startup's aim to raise $600 million this month from the likes of Alibaba, Foxconn and Xiaomi CEO Lei Jun in the hot EV market even after it's raised just over $700 million since its inception from a roster of major technology investors.

Xpeng's backers include the likes of IDG Capital, Morningside, Shunwei Capital, YF Capital, Lightspeed, GGV Capital and aslo Alibaba who is earmarked to also invest in this aimed round.

With the EV market being very hot in the Chinese and global region, Several EV startups and also major automakers have already churned out several electric vehicles for consumers with Xpeng now gearing to take on the likes of Nio, Tesla, BYD, Geely and other automobile manufacturers in the Chinese market.

image credit : Xpeng

Xpeng has already dished out 400 of its…

Walmart finalizes $16 Billion Flipkart Deal representing e-commerce' largest

After loads of predictions, expectations and speculation, Walmart has confirmed its acquisition of 77% of Indian e-commerce giant Flipkart for a huge $16 Billion giving the company a valuation of over $20 Billion.

This huge deal eclipses the previous record set in the e-commerce industry by a multiple of almost 5 which was PetSmart's acquisition of for $3.35 Billion April last year and also marking Walmart's largest acquisition in both the e-commerce and Brick-and-Mortar space even after the company previously acquired for a huge $3.3 Billion.

The U.S based Walmart purchased all of the company's shares held by its co-founder Sachin Bansal with him selling his entire 5.5% stake pocketing $800 million from the deal after paying 20% tax on the approximately $1 Billion he's pocketing from the deal, Co-founder Binny Bansal will retain a stake in the company along with Softbank, US based hedge fund Tiger Global, South African Internet giant Naspers and other investors.

According to analysis by our Data partner Tangentics, This deal is expected to be a big win for Walmart because e-commerce in India is growing at a very good rate with 6 million new entrants every month into the space, This huge investment in Flipkart will strongly increase its speed, Productivity and reliability in delivering goods to consumers thereby increasing the company's market share and tighten its grip in the country.

The Value of e-commerce in India stood at $38.5 Billion in 2017 and is expected to cross the $50 Billion dollar mark this year.

Walmart is also tightening its grip and pushing its force against major competitor Amazon which stands as one of India's largest e-commerce companies with this deal.

This deal is expected to cause a decline in Walmart's profit (although it benefits later in the future) for the quarter which has caused its shares to tumble more than 3% as of writing.


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image credit : Flickr/Ken Yeung

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image credit : R3

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image credit : Ant Financial

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image credit : Didi Chuxing 

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Corrected : Self driving startup Zoox is rasing $500 million in new round led by Australian entrepreneur Mike Cannon-Brookes

Courtesy : Bloomberg
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