HALISTER: Flipkart Gets $1.4b Investment From EBay, Tencent and Microsoft

Flipkart Gets $1.4b Investment From EBay, Tencent and Microsoft

(Bloomberg) -- Deal confers a post-money valuation of $11.6b on the startup, co. says in an emailed statement.
  • The investment is the largest ever in the Indian internet sector
  • NOTE: EBay is investing $500 million in Flipkart. As part of the deal, EBay is handing over its India e-commerce business, which has 4 million shoppers and 70,000 merchants, in exchange for equity.
  • NOTE: SoftBank is said to be closing in on an agreement to combine Snapdeal with Flipkart, creating a stronger domestic player to compete with Amazon.

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MSFT US (Microsoft Corp)
EBAY US (eBay Inc)
1303065D SP (Flipkart Ltd)
9984 JP (SoftBank Group Corp)

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