indian company attracts 14 billion investment from microsoft and tencent
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Indian Company Attracts $1.4 Billion Investment from Microsoft and Tencent

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleIndian Company Attracts $1.4 Billion Investment from Microsoft and Tencent

India's top e-commerce company Flipkart said today that it received $1.4 billion from Microsoft
Mumbai - QNA

India's top e-commerce company Flipkart said today that it received $1.4 billion from Microsoft, eBay, and Tencent in its most recent funding round.
Flipkart said it was now valued at $11.6 billion after the latest round. The company said that the investment from the three companies was the largest in the history of India's internet sector. As part of the deal Flipkart will acquire and run eBay India in return for a $500 million investment from the US firm, AP reported. eBay president Devin Wenig said the merger of its local operations with the Bangalore-based firm would take it to greater heights in India's online retail market.
Flipkart, founded in 2007 by two former Amazon employees, and its smaller local rival Snapdeal have attracted billions of dollars in overseas investment since their inception. The firms have battled stiff competition from American e-commerce giant Amazon since it entered India's cut-throat and rapidly growing online retail market in 2013. Flipkart has earlier drawn backers such as New-York based venture capitalists Tiger Global Management LLC and Singapore sovereign wealth fund GIC.
India's e-commerce market was reportedly worth about $23 billion in 2015, according to business body Assocham, and is expected to be worth over $32 billion by the end of the decade. 

Source: QNA

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian company attracts 14 billion investment from microsoft and tencent indian company attracts 14 billion investment from microsoft and tencent

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support

GMT 21:54 2016 Wednesday ,01 June

December 21 - January 18

GMT 16:05 2017 Monday ,24 April

Sharapova's return divides rivals

GMT 13:50 2012 Sunday ,22 January

Egyptians can now remove any regime

GMT 07:26 2017 Sunday ,23 July

70 villagers kidnapped in Afghanistan
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle