Flipkart raises US$1.4 billion for battle with Amazon in India
Microsoft, eBay and Tencent have backed the startup's bid to defend its home market
Indian e-commerce leader Flipkart just got a boost, as the company tries to fend off Amazon’s attempts to take the lead in market share by sales.
The ten year-old Indian startup managed to raise US$1.4 billion in a new round of investments from Tencent, eBay and Microsoft.
Flipkart said that, following the new investments, it is now valued at US$11.6 billion.