Flipkart, India’s leading e-commerce marketplace, announced Monday that it has received investments totaling $1.4 billion from Microsoft, eBay and Tencent, taking the company’s value to $11.6 billion.
The funding round is the largest in Flipkart’s 10-year history and sees the trio of technology firms join an existing group of marquee investors including Naspers Group, Tiger Global Management, Accel Parnters and DST Global.
“We are delighted that Tencent, eBay and Microsoft — all innovation powerhouses — have chosen to partner with us on their India journey. We have chosen these partners based on their long histories of pioneering industries, and the unique expertise and insights each of them bring to Flipkart. This deal reaffirms our resolve to hasten the transformation of commerce in India through technology,” co-founders Sachin Bansal and Binny Bansal said in a press release.
