Tencent, eBay, Microsoft put $1.4B into Flipkart funding
Seeking Alpha
Published Apr 10, 2017 09:46AM ET
Tencent, eBay, Microsoft put $1.4B into Flipkart funding
- Tencent (TCEHY -0.3%), eBay (EBAY +0.8%) and Microsoft (NASDAQ:MSFT) have put $1.4B into the latest funding round for Flipkart (Private:FPKT).
- That's at post-transaction valuation of $11.6B, and it includes tighter dealings between eBay and the Indian e-commerce marketplace. EBay will sell its eBay.in business to Flipkart and make a cash investment in that business, which will operate as an independent entity under its new ownership.
- The two also have an exclusive trade arrangement where each firm's customers will have access to inventory provided by the other's sellers, providing for Flipkart sellers to expand sales globally.
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