Online marketplace Flipkart raises $1.4 bn from Tencent, eBay, Microsoft
Tencent, eBay and Microsoft have made investments aggregating to $1.4 billion in the Indian online marketplace.
The latest funding round from the three global technology giants, at a post-transaction valuation of $11.6 billion, adds to an existing group of marquee investors that include Tiger Global Management, Naspers Group, Accel Partners and DST Global, read the Flipkart website.
Exec Chairman, Flipkart, Sachin Bansal tweeted: "Fantastic fusion of synergies!Tencent @eBay @Microsoft & @Flipkart! Giant leap for Indian ecommerce http://ln.is/stories.flipkart.com/80ndF … #FlipkartBigWin."
Co-founder and CEO - Flipkart Group Binny Bansal said: "Welcome @ebayindia to the @Flipkart family! More power to e-comm in India! http://bit.ly/10Apr2017 @eBay #FlipkartBigWin
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