Asia Unhedged | Flipkart raises US$1.4 billion for battle with Amazon in India
Photo: Reuters, Abhishek N. Chinnappa
Photo: Reuters, Abhishek N. Chinnappa
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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

April 12, 2017 8:40 PM (UTC+8)

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.

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