Business Companies 10 Aug 2017 SoftBank Vision make ...

SoftBank Vision makes big investment in Flipkart; now largest shareholder

PTI
Published Aug 10, 2017, 2:35 pm IST
Updated Aug 10, 2017, 2:47 pm IST
Company says this is biggest ever private investment in an Indian technology firm.
Flipkart is a major e-commerce player in India.
 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."

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Location: India, Delhi, New Delhi




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