Walmart paying $1.4 billion to buy out Tiger Global's remaining shares of the

Indian e-commerce startup Flip

our Deja Bosa got the email tiger sent to investors

digs into what it means for the broader fundraising environment for today's

Tech Check Depot.

Well Mel as we often talk about here on Tech Check, the funding and valuation environment for startup,

it remains challenged unless of course your business is generative AI.

We also haven't yet seen tech IPOs come back.

So big multi-billion dollar exits, they are harder to come by these days

But Tiger Global has notched one after a rough 2022 in which it saw many of its

public and private tech investments decline in value I was able to obtain an email that Tiger

sent to investors telling them that it has sold its remaining stake in Indian

e-commerce startup Flip Kart netting them a total of $3.5 billion on an $8.6 million series B investment

back in 2009.

So that is a very pretty return indeed. And it's also a much needed win for Tiger.

But we should also note that this is actually a down round,

meaning that it values the startup

at a lower price than its last fundraising round,

suggesting that late stage valuations they are still

deflating and the fundraising is still tight, not just in traditional venture capital, but also

at crossover funds like Tiger, Co2, Soft Bank, and in private equity.

In its email to investors though, Tiger writes that it is grateful for the opportunity to

...