Walmart in 2018 bought a majority stake in Indian online marketplace Flipkart in a $16 billion deal, its biggest overseas investment, and strengthened its U.S. e-commerce business by acquiring apparel retailers Modcloth and Bonobos. Walmart said Biggs will serve as an adviser until he leaves the company in January 2023. PayPal said it has appointed senior executive Gabrielle Rabinovitch as interim CFO and launched a formal search for Rainey's replacement. Rainey, who is on the board of directors at Nasdaq, also served as CFO at United Airlines.