REDWOOD CITY, Calif., Dec. 18, 2018 (GLOBE NEWSWIRE) -- Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP earned "Deal of the Year for Asia," "Best M&A Deal in Asia" and "Best India Deal" in FinanceAsia’s Achievement Awards 2018 for its work in the $16 billion acquisition of Flipkart Group by Walmart Inc. Gunderson served as international and M&A counsel to Flipkart Group, one of India’s largest e-commerce marketplaces, in the deal that made Walmart Inc. its largest shareholder. With the completion of the investment, Walmart now holds approximately 77 percent of Flipkart and the deal is reported to be the most highly-valued e-commerce deal in history.
Gunderson has represented Flipkart since 2011, supporting several significant rounds of financing to raise over $7 billion from investors such as eBay, Tencent, Tiger Global, Microsoft, Softbank, and Naspers. Gunderson also represented the company in numerous buy-side acquisitions. Launched in 2007, Flipkart Group has steered the transformation of commerce in India, enabling millions of customers, sellers, merchants, and small businesses to be a part of India's e-commerce revolution. In addition to Walmart, the remainder of the business is held by Flipkart's existing shareholders, including co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp.
The Gunderson deal team was led by corporate partner Steven Baglio with M&A practice chair Andrew Luh, corporate partners Ward Breeze, Gari Cheever, Ferish Patel and Jonathan Pentzien, tax partner Mark Foster, IP and tech transactions partner David Sharrow, executive compensation partner Lisa Gorrin, M&A special counsel John Olson, and associates Caitlin Ashworth, Richard Fortunato, Ryan Grimm, Emily Lieberman, Jaime Narayan and Rebecca Pugh.
Gunderson has a market-leading M&A practice for venture-backed companies worldwide, with more than $51 billion in global M&A exits since 2015. In that time, the firm has closed over 50 M&A transactions in Asia worth billions of dollars. The firm represents more than 2,500 venture-backed companies at every stage in their life cycle, from launch through IPO and beyond, becoming extensions of management teams as they prepare for their next stage of growth. Gunderson pairs its company-side practice with a globally preeminent fund practice, representing more than 450 venture capital and growth equity firms worldwide – from industry leaders with tens of billions under management to emerging managers raising their first funds. The firm negotiates close to one-third of every venture capital dollar raised globally and handles more than 1,000 investor side financings every year, totaling more than $30 billion in 2018 alone.
Monica Rodriguez Kuniyoshi
Chief Marketing Officer
Phone: 650-463-5337
Email: mkuniyoshi@gunder.com