LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » Small Business News

Flipkart in discussions with Microsoft, Tencent Holdings, eBay, others to raise $1.5 billion funding

Flipkart is in talks with Microsoft, Tencent Holdings, eBay and PayPal Holdings to raise $1.5 billion at a valuation of $10-12 billion.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Flipkart in discussions with Microsoft, Tencent Holdings, eBay, others to raise $1.5 billion funding
Flipkart last raised funds more than 18 months ago when existing investors led by Tiger Global Management pumped $700 million into the company, valuing it at $15 billion, cited the report. Image Source: Reuters
Written By: ZeeBiz WebTeam
Updated: Wed, Feb 22, 2017
01:01 pm
Mumbai , ZeeBiz WebDesk
RELATED NEWS
49 e-commerce cos including Amazon India, Flipkart report over Rs 16,000 crore in losses; BookMyShow, Jabong, Olx India book profit 49 e-commerce cos including Amazon India, Flipkart report over Rs 16,000 crore in losses; BookMyShow, Jabong, Olx India book profit
Flipkart to use Microsoft cloud to boost e-tail sales Flipkart to use Microsoft cloud to boost e-tail sales
Were Flipkart, Myntra ahead of their time with app-only business model? Were Flipkart, Myntra ahead of their time with app-only business model?
From $15 billion valuation to $5.5 billion; Flipkart faces hard times From $15 billion valuation to $5.5 billion; Flipkart faces hard times
ZTE in partnership with Flipkart launches Blade A2 Plus smartphone priced at Rs 11,999 in India   ZTE in partnership with Flipkart launches Blade A2 Plus smartphone priced at Rs 11,999 in India
Highlights:

1. Flipkart in talks with Microsoft, Tencent Holdings, eBay and PayPal Holdings to raise $1.5 billion at a valuation of $10-12 billion

2. The e-commerce company earlier wanted to raise anywhere between $500 million  to $1 billion is now seeking up to $1.5 billion

3. Flipkart has raised nearly $3.5 billion in cash over the past six years

Homegrown e-commerce major Flipkart in talks with Microsoft, Tencent Holdings, eBay and PayPal Holdings, among others to raise fresh funding round of up to $1.5 billion at a valuation of $10-12 billion, LiveMint reported on Wednesday citing three people familiar with the matter. 

According to the news report, the e-commerce company has increased the size of its funding round after its turnaround under new chief executive officer Kalyan Krishnamurthy gathered steam since December, said the people cited above, asking not to be identified.

Besides raising funds from online market place eBay, payments firm PayPal, Chinese gaming and messaging giant Tencent, and technology firm Microsoft, Flipkart is also in talks with Google Capital for the ongoing round, it reported quoting one of the people,as stating. 

ALSO READ: From $15 billion valuation to $5.5 billion; Flipkart faces hard times

Moreover, the three people familiar with developments said the two financial investors or funds have also expressed interest in investing in Flipkart. However, they declined to name the funds.

The report citing the people further said that the funding discussions may give Flipkart a pre-money valuation of $10-12 billion, which  is lower than its previous valuation of $15 billion, but would still represent a coup for Flipkart, which has seen its valuation cut by up to 60% by five of its own investors over the past one year. Pre-money refers to the valuation before the round’s cash infusion.

The e-commerce company which also owns the fashion retailers like Myntra and Jabong as well as payments app PhonePe, earlier wanted to raise anywhere between $500 million to $1 billion is now seeking up to $1.5 billion, they said.

Flipkart is a leading e-commerce company in India and it competes with Amazon India, Snapdeal and other e-commerce companies in the country. 

Flipkart last raised funds more than 18 months ago when existing investors led by Tiger Global Management pumped $700 million into the company, valuing it at $15 billion, cited the report.

ALSO READ: Flipkart to use Microsoft cloud to boost e-tail sales

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
FlipkartStartupsMicrosoftTencent HoldingseBayPayPal Holdingsfresh funding roundGoogle CapitalKalyan KrishnamurthyTiger Global ManagementAmazon IndiavaluationSnapdealMyntraJabongPhonePeindia
RELATED NEWS
49 e-commerce cos including Amazon India, Flipkart report over Rs 16,000 crore in losses; BookMyShow, Jabong, Olx India book profit 49 e-commerce cos including Amazon India, Flipkart report over Rs 16,000 crore in losses; BookMyShow, Jabong, Olx India book profit
Flipkart to use Microsoft cloud to boost e-tail sales Flipkart to use Microsoft cloud to boost e-tail sales
Were Flipkart, Myntra ahead of their time with app-only business model? Were Flipkart, Myntra ahead of their time with app-only business model?
From $15 billion valuation to $5.5 billion; Flipkart faces hard times From $15 billion valuation to $5.5 billion; Flipkart faces hard times
ZTE in partnership with Flipkart launches Blade A2 Plus smartphone priced at Rs 11,999 in India   ZTE in partnership with Flipkart launches Blade A2 Plus smartphone priced at Rs 11,999 in India

LATEST NEWS

UltraTech Cement share price: Sharekhan maintains Buy rating with a revised price target of Rs 6700

Republic Day Parade 2021: When and where to watch live telecast of R-Day Parade - timing to traffic routes, all details here

NEET, IIT JEE, NDA, CDS, UPSC exams: Free coaching for students, Abhyudaya scheme, announced by Yogi Adityanath-led UP government

Republic Day 2021: LIVE! Tight security for 72nd R-Day celebrations, tractor parade--seating arrangement made keeping social distancing in mind

SBI Card MD & CEO AK Tiwari speaks to Anil Singhvi on income, profit, NPA and the road ahead

Budget 2021 expectations: Society of Manufacturers of Electric Vehicles calls for rejig of FAME II or reintroduction of FAME I

CBSE Exams 2021: Datesheet announcement and other latest details, Class 10, 12 students must know

FAU-G Game Launch date: Good news! Release tomorrow, beats PUBG Mobile India

How to check IRFC IPO Allotment Status Online: All you need to know in one place

7th Pay Commission Latest News: Salary up to Rs 2.08 lakh plus NPA; take the first step to get this government job available on upsc.gov.in

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved