Flipkart owner not surprised by Facebook’s Jio investment

MUMBAI: Walmart, owners of top ecommerce marketplace Flipkart, is not surprised by internet major Facebook’s investment in Reliance, Brett Briggs, chief financial officer of the US retail giant, has said.

“It’s (online retail space) been competitive…Reliance, Amazon… When you have 1.3 billion people, it’s going to attract a lot of investment…a lot of the reasons why we went there. So, it’s not surprising,” Briggs said at a Bernstein annual conference while answering whether Facebook’s investment in the Mukesh Ambani-controlled rival will be a “game changer” in India.