BRIEF-India's Flipkart raises $1.4 bln in its biggest ever funding round

April 10 (Reuters) - Flipkart:

* Flipkart announces investment of $1.4 billion from

consortium of global blue chip tech companies

* Tencent, EBay and Microsoft join Flipkart as strategic

investors

* The investment by Ebay is accompanied by a strategic

commercial agreement with Flipkart

* Flipkart says latest funding round at a post-transaction

valuation of $11.6 billion

Source text:

[[Flipkart Group, India’s leading e-commerce marketplace, has

raised a total of $1.4 billion from Tencent, eBay and Microsoft

- three of the world’s premier technology companies. This

investment adds to an existing group of marquee investors that

include Tiger Global Management, Naspers Group, Accel Partners

and DST Global.

The latest funding round, at a post-transaction valuation of

$11.6 billion, is the largest in Flipkart’s 10-year history as

well as in the Indian internet sector and comes as Flipkart

gears up to drive the next phase of e-commerce growth in India.

“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. It is a

resounding acknowledgement that the homegrown tech ecosystem is

indeed thriving and succeeding in solving genuine problems in

people’s daily lives across all of India," said Sachin Bansal

and Binny Bansal, Founders of Flipkart]]

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