Flipkart looks to forge $1.5 billion deal, with eBay and Tencent

6

6pack

ex-Mod
Source: Economictimes

Flipkart is in talks to seal a funding round of up to $1.5 billion. US-based eBay and China’s Tencent are the frontrunners in the transaction that could make the Indian arm of the American online marketplace a part of Flipkart, according to three people aware of the negotiations.

The discussions, if successful, will enable Flipkart to forge an alliance with deep-pocketed strategic investors — who also compete with its two main rivals, Jeff Bezos’ Amazon and Jack Ma’s Alibaba — as it looks to end a funding drought and secure its position as the leader in one of the world’s fastest growing markets for ecommerce. The company is also exploring further funding from a third investor, sources said. “Talks with eBay are at an advanced stage, and a strategic deal may include Flipkart acquiring or merging their India operations,” said one of the persons cited above. eBay and Flipkart declined comment.
Click to expand...

So is eBay pulling out of India?
 
Back
Top