A group of investors in Microsoft Corp., eBay Inc. and Tencent Holdings Inc. will invest $1.4 billion into Indian company in the field of e-Commerce Flipkart Group, according to The Wall Street Journal.
The company was valued at $11.6 billion, while in 2015 it will be $15 billion. Despite this, the company has remained the most expensive Indian startup.
As the newspaper notes, means the company intends to direct against the main competitors in the industry – Amazon and Alibaba. Attracted investment will help Flipkart take control of eBay India, a major player of e-Commerce in India.
Flipkart was founded in 2007 by former Amazon employees.