Largest company from electronic commerce market, Flipkart become successful in collecting 1.4billion dollars. Microsoft, Tencent, and Ebay have helped Flipkart in raising 1.4billion dollars. And after receiving this money finally, Flipkart acquires eBay India. This entire deal is supposed to be the biggest deal in the e-commerce market.
After Flipkart new investment in eBay India, Flipkart has become a company with 11.6 Billion Dollars value. Flipkart was in loss from last two years because in 2015 Flipkart is a company with a net worth of 15.2 billion dollars. So From 2015 to 2017, it has been noticed that Flipkart has lost 23% of the net worth. Along with new investors, Flipkart has old investors like Tiger Global Management, Naspers group, Accel Partners and DST global.
After dealing with new investors Flipkart founder and owner Sachin Bansal and Binny Bansal have said that Microsoft, Tencent, and eBay are the powerhouse of innovations and they are happy because these companies have chosen Flipkart as a partner in India.
Ebay India will work freely under the Guidance of Flipkart, and this will be beneficial for eBay users because products available on Flipkart will also be deliverable to eBay customers.
Two classmates from IIT Delhi Sachin and Binny Bansal started Flipkart in 2007.
And in the journey of last ten years, Flipkart has registered more than ten crore users. In past ten years, Flipkart has taken over Myntra, Jabong, and Phonepe.
The Journey has started ten years back from the boy’s hostel of IIT Delhi. And now Flipkart has become Indias largest E-commerce Store with more than ten crore users.