SoftBank Vision makes big investment in Flipkart; now largest shareholder
10 Aug 2017 9:05 AM GMT
Company says this is biggest ever private investment in an Indian technology firm.
Flipkart is a major e-commerce player in India.
New Delhi: Flipkart today said SoftBank Vision Fund, the world's largest technology-focused fund, has invested in the e-commerce company to become one of its largest shareholder.
Without disclosing the amount invested, the company said: "This is the biggest ever private investment in an Indian technology company."
In a statement, it said: "The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world's premier technology companies - Tencent, eBay and Microsoft.
"After this financing round, Flipkart will have in excess of USD 4 billion of cash on balance sheet."
( Source : PTI )
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