Flipkart raises $1.4 billion from eBay, Microsoft and Tencent at an $11.6 billion valuation

 Following months of rumors, Indian e-commerce giant Flipkart has confirmed that it has raised $1.4 billion in new funding at a post-money valuation of $11.6 billion to battle Amazon and Alibaba. The deal includes some big-name strategic investors: China’s Tencent, eBay and Microsoft, which join existing Flipkart backers that include Tiger Global, Naspers, Accel and DST Global.
The… Read More