OMG..!!! Flipkart preparing to buy Snapdeal after big funding

The country’s leading e-commerce firm Flipkart has raised $ 1.4 billion (about Rs 9,050 crore) from three companies.

This is the largest amount raised by any Indian internet company.

Microsoft, Tencent Holdings (China’s Internet Service Company) and eBay Global have provided this amount.

Flipkart announced this deal on Monday.

Before this, Flipkart has already raised over $ 3 billion (about Rs 19,365 crore) in several rounds.

Most of the money came from international investors like Tiger Global, Essel Partners and DST Global.

Flipkart’s current valuation is $ 11.6 billion (about Rs 74,800 crore).

In 2015, the company’s market value was estimated at $ 15 billion (about Rs 96,825 crore).

Flipkart founder Sachin Bansal and Binny Bansal said that through this deal, the confidence of changing business has strengthened with the help of technical in India.

Sachin and Binny, who worked in Amazon, founded Flipkart ten years ago.

There are discussions that Flipkart is also in favor of buying domestic competitive e-commerce company Snapdeal.

They are in talks with Japanese company Softbank for this.

If this deal happens then the biggest acquisition of the country’s e-commerce area will be acquired.

Grocery will also be in business

Flipkart CEO Kalyan Krishnamurthy has said that again grocery is entering the business.

In the last three years, many companies have been out of grocery business.

There was one time when there were 50 e-grocery companies.

Now only the big baskets of Bengaluru and the grooves of Gurugram are left.

You might like

Leave a Reply

Your email address will not be published. Required fields are marked *