E-commerce major Flipkart has raised $1.4 billion in its latest funding round - the biggest ever in its 10-year history as it takes on US tech giant Amazon.com Inc for a larger share of the country's burgeoning online retail market. Tencent, eBay and Microsoft have made investments aggregating to $1.4 billion in Flipkart, the e-commerce major said in a statement, at a post-transaction valuation of $11.6 billion. The investment by eBay is accompanied by a strategic commercial agreement with Flipkart. In exchange for an equity stake in Flipkart, eBay is making a cash investment in and selling its eBay.in business to Flipkart. eBay.in will continue to operate as an independent entity as a part of Flipkart.
E-commerce in India wins big. @Flipkart raises $1.4 bn from Tencent @eBay & @Microsoft
Read: https://t.co/oeuTItg2TH #FlipkartBigWin pic.twitter.com/neGB5v9LzU— Flipkart Stories (@FlipkartStories) April 10, 2017Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
