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Flipkart raises $1.4 billion from Microsoft, eBay and Tencent

Flipkart has raised $1.4 billion from Chinese investment holdings firm Tencent, global e-commerce player eBay and technology company Microsoft. Following this, the Flipkart Group is valued at $11.6 billion down significantly from the previous valuation of $15 billion. With the investment by eBay, the global e-commerce company is selling its India unit, eBay.in to Flipkart in exchange for equity in the Flipkart Group. eBay.in continue to operate as an independent entity. As a result of the deal, Indian customers of will gain access to the global inventory on eBay, while eBay’s customers will have access to Indian inventory provided by Flipkart sellers. Note that rival Snapdeal had earlier sold a minority stake to eBay for an undisclosed amount in 2013. And in August 2015, eBay sold a partial stake in Snapdeal to focus on its India operations. The Economic Times' Madhav…

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