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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 Amazon.com, 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 Amazon.com, Inc. during the holidays shopping season, but only just barely.

You can follow these links to learn more about Flipkart.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/flipkart-ebay-inc-ebay/.

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