Flipkart is online marketing site which launched in 2007 have announced its biggest achievement in its ten years history. On Monday Flipkart publicize on Twitter that Tencent, eBay and Microsoft have made investments aggregating to $1.4 billion in Flipkart which is one of the India’s leading online marketplace. In Global Trade Agreement these three global tech giants have made the largest investment in Flipkart . Investment by eBay is accompanied by a strategic commercial agreement with Flipkart in exchange for an equity stake in Flipkart, eBay is making a cash investment in and selling its India business to the company.
Rs 9,000-crore ($1.4-billion) deal is led by China’s Tencent with an investment of $700 million while eBay Inc will contribute $500 million and also receive Flipkart stock worth $200 million on behalf of its Indian operations. Microsoft, which recently signed an agreement with Flipkart to make Azure the retailer’s exclusive public cloud platform, will put in $200 million to round off the deal. Tencent, eBay Seen As Strategic Investors China’s Tencent, which runs the hugely successful messenger service We Chat, is being positioned as a strategic investor along with eBay after years of getting on board financial backers in Flipkart. Tencent joins as a strategic investor, bringing experience in linking social networking and e-commerce. In leading this funding round, Tencent will lend significant expertise to Flipkart, a company statement said. This strategic partnership enables Tencent to participate in the exciting opportunities in e-commerce and payments in India.
“We are delighted that Tencent, eBay and Microsoft that all innovation powerhouses have chosen to be partner with us on their India journey, this is a landmark deal for Flipkart and for India as it endorses our tech prowess, our innovative mindset and the potential we have to disrupt traditional markets,” said founders Sachin Bansal and Binny Bansal in a joint statement. They also welcomed Ebay and tweeted that “Welcome
@ebayindia to the @Flipkart family! More power to e-comm in India! ”
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