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On Monday, Flipkart, the largest e-commerce marketplace of India has said that Tencent, eBay and Microsoft have made investments aggregating to $1.4 billion in the company.
The latest funding round from these three technology companies have come at a post transaction valuation of USD 11.6 billion.
Sachin Bansal and Binny Bansal, Founders of Flipkart have said that “We are delighted that Tencent, eBay and Microsoft (all innovation houses) have chosen to partner with us on their India journey. We have chosen these partners based on their long histories of pioneering industries, and the unique expertise and insights each of them bring to Flipkart. This deal reaffirms our resolve to hasten the transformation of commerce in India through technology.”
