India’s Flipkart Raises $1.4 Billion Funding

Flipkart Private Ltd, the Singapore-based holding company of India’s e-commerce marketplace Flipkart, based in Bangalore, closed a $1.4 billion funding round with backing from Chinese Internet giant Tencent, eBay, and Microsoft. Post funding, the valuation of India’s most highly valued startup is now $11.6 billion from a previous high of $15 billion. The investments will give Flipkart a possible entry into the peer-to-peer e-commerce market.

Flipkart Logo

eBay will sell its Indian business to Flipkart in part exchange for an equity stake; however, it will continue to operate as an independent entity. Tencent, a leading provider of internet value-added services, will become a “strategic investor”, bringing experience in linking social networking, and e-commerce reports CNBC.

“This deal reaffirms our resolve to hasten the transformation of commerce in India through technology,” co-founders Sachin Bansal and Binny Bansal said in a press release.

Be Sociable, Share!
Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

0 comments

There are no comments yet...

Kick things off by filling out the form below.

Leave a Comment

*