Today there is another breaking news that is becoming very viral of Flipkart acquires eBay India. For ‘Great Alliance’ Against Amazon: Flipkart has raised Rs 9000 crore ($ 1.4 billion), for eBay’s Indian business purchase. Yes, let’s tell you that Flipkart has announced its largest funding round and said that it is buying the competing company eBay’s Indian business.
Flipkart has raised around Rs 9000 crore, i.e. $ 1.4 billion, in its biggest funding round so far. The largest funding is by China’s Tencent Company. Tencent has invested $ 700 million alone. Whereas e-bay has invested $ 500 million and Microsoft has invested $ 200 million. With the help of this funding, Flipkart’s valuation has now reached $ 11.60 billion. According to the company, this is the biggest investment for the internet sector in India.
India’s largest online retailer, Flipkart, is mobilizing more and more funds so that companies like Amazon and Alibaba can compete in India’s digital eCommerce market. This move of Flipkart, the country’s largest online retailer, is being considered as the ‘Great Alliance’ against American legend Amazon.
Flipkart co-founder Sachin Bansal and Binny Bansal wrote on the company’s blog, “Tencent, eBay and Microsoft have chosen us as partners for our journey in India, which is a pleasure for us. Looking at his long pioneering history in the industry, he has chosen his partner. ‘ Tencent has invested in Flipkart at such times when Alibaba is investing $ 20 billion in Paytm and is expanding into the Indian e-commerce market. Alibaba can increase further investment to maintain its dominance in India.
— STPI (@stpiindia) April 11, 2017
Flipkart CEO Kalyan Krishnamurti has said that again grocery is entering the business. In the last three years, many companies have been out of grocery business. Such discussions are also being heard that Flipkart is also in favor of buying domestic competing e-commerce company Snapdeal. For this, Flipkart is in talks with Japanese company Softbank. –
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Investments in Flipkart from e-bay have been done under a strategic commercial agreement. In lieu of the equity shareholding in Flipkart, eBay has given some part in cash and for the rest the company has handed over its (eBay) in-house business to Flipkart. EBay.in will continue to work as an independent entity while being a part of Flipkart.
Tags :- Flipkart acquires eBay India, Flipkart Purchase Ebay, Flipkart Buy Ebay.