Google News

Tencent invests US$ 62.8 million in Flipkart

Must Read

Tencent has invested US$ 62.8 million in Indian e-commerce giant, Flipkart, according to filings sourced by
“There is the possibility though that Tencent’s investment is the first money in, as part of this larger round involving Walmart and other shareholders,” said said that Tencent is a minority investor in the platform whose Singapore-holding company saw Walmart acquiring a majority stake in 2018. It said Tencent shares the cap table with other minority investors, including Tiger Global, Accel, former Flipkart chief executive officer and co-founder Binny Bansal, Microsoft, and Singapore GIC.
“Our calculations based on the available data indicate that Tencent holds stake in the range of 4-5.3 per cent,” said
The funds will come in handy as Flipkart is gearing up for its upcoming Big Billion Days sale.

Latest News

Indian consumers compelling national brands to reposition themselves

The 16th edition of the two-day India Food Forum powered by Smart Bazaar deliberates the consumer challenges on Day...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.