Flipkart Got the Biggest Funding of 9300 Crores

April 11, 2017 Facebook Twitter LinkedIn Google+ Blog,New Launches,Tech and News

A lot of people like to shop online today as almost all kinds of products, branded and non-branded are available in online stores with discount. Also, they do have return and refund policies that make shopping a pleasant experience for users. In recent years, Flipkart, Snapdeal, eBay are doing a great business and have billions of users across the globe.

Now, Flipkart has announced a deal with eBay, Microsoft and Tencent to make his business more powerful. These companies are investing 1.4 billion dollars which are equivalent to about nine thousand three hundred crores rupees in Flipkart, which is the biggest e-Commerce firm of the nation.

Flipkart Buys Ebay

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Key Features of the deal

  • Flipkart is planning to purchase eBay in India.
  • It is the biggest funding for Flipkart in the last ten years.
  • After this funding, the value of the company will be raised to 11.6 billion dollars (76 thousand crores).
  • Tech company Microsoft has now become the strategic partner of
  • It is a landmark deal for Flipkart as told by Flipkart’s founders.

Tiger Global Management, Naspers group, Aisle Partners and DST Global have already invested in Flipkart. Flipkart is a great e-Commerce start-up that is a serious competitor to Amazon. eBay is the minority investor in Flipkart with significant share from Microsoft and a Chinese social networking and gaming firm,
Tencent. It is also expected that Flipkart is about to purchase Snapdeal.

Flipkart is a retail marketplace which is inviting third-party vendors to sell their products like clothing and footwear on the online store. These are high margin products which will fetch a big amount of profit to Flipkart. Bansals said that they are planning to grow their marketplace and mobile commerce this year. The funding from eBay, Microsoft and Tencent will improve company’s expertise and logistics.

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