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Flipkart: 10 Things to Know About India’s Top Online Marketplace

Flipkart, the top online retailer in India, is in the news today.

Flipkart: 10 Things to Know About India's Top Online MarketplaceA large investment from several tech companies is shining a spotlight on Flipkart. The online retailer is receiving $1.4 billion in funding from three tech companies. Tencent is investing $700 million, eBay Inc (NASDAQ:EBAY) is investing $500 million and Microsoft Corporation (NASDAQ:MSFT) is putting $200 toward the company.

The investment in Flipkart is sweetened further by an additional deal with eBay Inc. This deal has EBAY acquiring $200 million worth of the company stock. In exchange for this, Flipkart is obtaining the online retailer’s India division, reports Economic Times.

Here are a few things to know about Flipkart.

  • It has raised a total of $4.6 billion.
  • The online retailer is hoping to fend off, Inc.’s (NASDAQ:AMZN) expansion into India.
  • It’s current funding is close to matching the $5 billion investment AMZN is making in the country.
  • The online retailer has been obtaining several brands over the years, including Jabong, Jeeves and others.
  • It is also negotiating to acquire Snapdeal, which has SoftBank Group Corp (OTCMKTS:SFTBF) backing it as its largest investor.
  • Following its most recent acquisition of funds, Flipkart is now valued at about $10 billion.
  • This is a decrease over its previous value of $15.5 billion in 2015.
  • Flipkart’s CEO is Kalyan Krishnamurthy, a former executive of eBay Inc.
  • He took over the company last year and made several changes to its management.
  • These changes allowed Flipkart to outsell, Inc. during the holidays shopping season, but only just barely.

You can follow these links to learn more about Flipkart.

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