MUMBAI, April 10 (Reuters) - India's top e-commerce firm
Flipkart has raised $1.4 billion from Tencent
Holdings Ltd, Microsoft Corp and eBay Inc
, the company said in a statement on Monday.
Flipkart will have a valuation of $11.6 billion after the
latest funding round, which was its biggest ever, the statement
The news comes amid strong but unconfirmed speculation that
Flipkart is looking at a potential takeover of smaller rival
As part of the fundraising, eBay invested $500 million in
Flipkart for a stake. In exchange, the two
companies will merge their operations in India and Flipkart will
own and operate eBay's business in the South Asian country when
the deal closes later this year.
EBay said in a separate statement it did not expect the deal
to have any "material impact" on its guidance provided in
(Reporting by Sankalp Phartiyal; Editing by Rafael Nam)