Flipkart will now oversee eBay India, which is not a big e-commerce platform in the country. However, the eBay division will continue to be independent. Over numerous funding rounds, Flipkart has raised a total of $4.65 billion. Today’s announcement marks the company’s first funding round in nearly two years. The last came in July 2015, when $700 million was raised. The $1.4 billion brought in this time results in this investment being the biggest round in Indian start-up history.
Recent Collaborations
The company says it will use its strategic investment allies to help “drive the next phase of e-commerce growth in India.” “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,” – Sachin Bansal and Binny Bansal, Founders of Flipkart Microsoft has a recent history of collaboration with Flipkart. The e-commerce company announced recently its decision to adopt Microsoft’s Azure cloud platform.
