Indian e-commerce giant Flipkart raises $1.4b from Microsoft, eBay and Tencent
Indian e-commerce giant, Flipkart has raised a $1.4b investment round from Microsoft, eBay and Tencent.
This takes the company’s valuation to $11.6b, lower than the $15b valuation in its September 2015 fundraising round. This follows Flipkart acquiring Jabong and securing $210m of sales in a day.
As part of the deal, eBay will sell its India business topped up with $500m cash to Flipkart for equity, but will continue to operate as an independent entity.
“The combination of eBay’s position as a leading global e-commerce company and Flipkart’s market stature will allow us to accelerate and maximize the opportunity for both Read full story ›
Source: The Drum
