Walmart has agreed to acquire a 77 percent stake in India-based e-commerce company Flipkart for US$16 billion, valuing the company at approximately US$21 billion. The deal includes US$2 billion in new equity funding, as well as a US$14 billion secondary acquisition of shares from investors including the SoftBank Vision Fund (selling shares worth US$4 billion), Tiger Global Management (US$3 billion), Naspers (US$2.2 billion), Accel Partners (US$1 billion), Flipkart co-founder Sachin Bansal (US$1 billion) and eBay (US$1.1 billion). After Walmart’s acquisition, the remainder of the business will be held by Flipkart co-founder Binny Bansal, strategic investor Tencent Holdings, Tiger Global Management and Microsoft. The transaction is subject to regulatory approval.