New Delhi: In a greatest round of subsidizing by an Indian Internet organization till date, web based business organization Flipkart on Monday raised USD 1.4 billion from blue-chip innovation organizations Microsoft, eBay and Tencent.
With this round of subsidizing, Flipkart valuation has achieved USD 11.6 billion and US IT major Microsoft joins Flipkart as a vital financial specialist.
Flipkart’s current financial specialists incorporate Tiger Global Management, Naspers Group, Accel Partners and DST Global. “Flipkart Group has raised a sum of USD 1.4 billion
from Tencent, eBay and Microsoft – three of the world’s chief innovation organizations,” Flipkart said in an announcement.
“The most recent financing round, at a post-exchange valuation of USD 11.6 billion, is the biggest in Flipkart’s 10-year history and in addition in the Indian Internet area and comes as Flipkart apparatuses up to drive the following period of web based business development in India,” the online commercial center said.
China-based Tencent claims social informing application WeChat and has ventures crosswise over different online organizations like Practo, Ibibo and so forth.
Flipkart authors Sachin Bansal and Binny Bansal said it’s a point of interest arrangement for the organization and for India as it embraces the company’s tech ability, creative attitude and the possibility to upset conventional markets.
The Flipkart Group possesses a few surely understood Indian brands, for example, Myntra, Jabong, PhonePe and Ekart.