After Flipkart, Walmart Looks To Make Tech Acquisition In India

The world’s largest retailer, Walmart Inc, seems dead serious about strengthening its foothold in India. Walmart, which agreed to acquire homegrown ecommerce platform Flipkart in May, is now looking to make a tech acquisition to strengthen its technology unit, Walmart Labs.
 
According to a report, Walmart Labs is mostly looking for acqui-hires and niche tech-product startups. Acqui-hiring refers to the practice of buying a company in a cut-price deal, primarily for the purpose of “hiring” the company’s founders and key employees.
 
The acquisition will, however, be of a much smaller size compared to its investment of $16 Bn to buy a 77% stake in Flipkart.
 
Walmart chief technology officer Jeremy King, in an  interview at its Silicon Valley office, said, “I’m looking at (acquisition candidates) in merchandising, machine learning right now.”
 
Walmart Labs has one of its three global offices in Bengaluru where 90% of its work for India is executed. The office has a competitive intelligence and analytics team to push its innovation. It also has a team for sourcing that understands which warehouse to pull items from when a person orders, among other works.
 
According to King, the Walmart Labs is currently hiring engineers with expertise on machine learning (ML), merchandise, supply chain, data science, product managers and cloud experts.
 
On the other hand, Walmart’s main rival Amazon India is leaving no stone unturned when it comes to adoption of newer technology. The company is fast increasing the adoption of ML to cut product returns, improve the speed and accuracy of product deliveries. Similarly, Flipkart has also announced to push its effort to put ML and AI at the core of its business.
 
According to Gartner forecast, the data management software market revenue in India is growing to become a $950 Mn market in 2018, with a 13.2% year-over-year increase.
 
Gartner principal research analyst Ehtisham Zaidi said, “The ‘fast followers’ are even looking to make heavy investments in advanced analytics solutions driven by artificial intelligence and machine learning.”
 
India’s venture capital firms are taking significant steps in the software sector as well. In a recent development, Bengaluru-based early-stage Inventus Capital Partners announced the first close of its third fund and will invest in startups focused on areas of applications such as ML and AI. Similarly, US-based investor Y Combinator recently invested in an AI-focused startup.
Shoot

Trending News

E-pharmacies divided over their legal status

CapitalG’s India head Kaushik Anand quits, will join A91 Partners

Infosys completes JV formation with Temasek

With Walmart in driver's seat, Flipkart set to speed up hiring

Mumbai: Now, Uber fare to factor in fuel rate fluctuation

Amazon, Flipkart under ED probe for alleged violation of FDI norms

Paytm sets up wholesale entity for ecomm business like rivals

Uber posts $1Bn loss in quarter as growth in bookings slows

Infosys to open Texas hub, hire 500 Americans by 2020

Swiggy's $300M secondary share sale to be the fastest liquidity event for growth-stage investors

Over half of billion-dollar startups in US are founded by immigrants

Apple to tighten e-commerce play in India post Amazon deal

Amazon Wholesale's FY18 revenue up 73% due to B2B focus

Twitter cuts suspect users from follower counts again

Payments majors Visa, Mastercard and American Express may be taxed on India income

IRCTC wakes up after 2 years to fix its security bug

Alibaba's on-demand online services unit raises $4Bn, now valued at $30Bn: Sources

Twitter is looking to take the conversation to Bharat next

Bharat going digital for payments

Reserve Bank of India plans payments watchdog

Apple not in settlement talks 'at any level' with Qualcomm: Report

Payment cos witness growing adoption of digital gold during festival season

Meesho raises $50M from DST, Shunwei, RPS Ventures

BMTC will soon allow commuters to buy tickets using digital wallets

Flipkart, Amazon India register significant user base growth during the festive month

Rural e-commerce market a $10b-$12b opportunity in the next four years

Amazon goes shopping for Future Retail, to buy 9.5% stake

Walmart’s veggie-tracking technology: Use Blockchain

India's oldest cryptocurrency exchange Zebpay shuts down

Apple's growth in India is becoming a challenge: Tim Cook

Google India tax row: $2 billion remittance in 5 years may add to tech giants load

Want WhatsApp to cooperate with law enforcement agencies: RS Prasad

Flipkart acquisition won’t hit Walmart India plans

Twitter India earnings fall 14% in 2017-18

Alibaba to help manufacturers solve future problems with technology: Jack Ma

Ola likely to hit $5.5Bn valuation with Steadview's $100M investment

Flipkart India losses widen to Rs 2,063.8 crore in FY18

Google to give away USD 25 million to fund humane AI projects

Swiggy FY18 revenues surge 232% to Rs 442 Cr, inches closer to Zomato

Paytm's losses go up 270% to Rs 3,393 Cr driven by e-tail business

Flipkart told to stop selling products under MarQ private label

Once considered as rivals, Ola and Uber could now be saviour of autorickshaws

HCL Tech to hire nearly 30,000 people, applies for 640 H-1B visas

Zensar Technologies Q2 profit up 49% at Rs 93 crore

Facebook beyond Facebook? Instagram, Messenger & WhatsApp step up

Paytm Mall expects fashion, grocery to drive its growth

HDFC Bank Q2 net profit climbs 21% to Rs 5,005 crore on robust core income

Zomato, Swiggy and UberEats double salaries of delivery staff in some cities

Funding Galore: Indian Startup Funding Of The Week

“Over $3 Bn Was Invested Across 372 Deals With 54 Mergers & Acquisitions”

E-commerce players brace for big battle over online pharma

Walmart signs 5 year Cloud tech partnership with Microsoft

Flipkart adds recharge, travel tabs

Unhappy with WhatsApp reply, Indian govt may send second notice

Cars24 closes $50M funding to fuel its expansion plans

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Qualcomm rejects Broadcom's $103 billion offer

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities