Monday, April 10, 2017

Flipkart acquires eBay India after $1.4 billion funding round

Flipkart – India’s largest online retailer – today announced two major pieces of news. Firstly, it raised a mammoth $1.4 billion from Tencent, eBay, and Microsoft, along with previous investors in the country, like Tiger Global, Naspers Global, Accel Partners, and DST Global. This round values the company at $11.6 billion, and is the 11th the company has raised, not including two angel rounds. But perhaps most exciting, it also announced that it was to acquire eBay India. Neither Flipkart nor eBay have disclosed terms, but according to the Economic Times, it will continue operate as a separate entity from Flipkart.…

This story continues at The Next Web

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