Flipkart Raised $2 Billion Funding To Acquire eBay India; Report

Flipkart has been losing its market from its competitor Amazon. The company has fallen from $15.5 billion (in 2015) to $10 billion in valuation. So, as a result of that Flipkart is raising funding of around $2 Billion to acquire eBay India.

Earlier this week, it was reported that the company has raised $1 billion from new and existing investors and is planning to raise another billion. Factor Daily suggests that the home-grown e-retailer is set to acquire eBay India with its fresh funding of around $2 billion (if they manage to add up another billion).

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Flipkart Acquiring eBay India

The report says that eBay India will merge into Flipkart. The company has got its latest funding at a valuation of around $10 billion, which is below $15.5 billion valuation (in 2015). eBay India head Latif Nathani, had quit the company earlier this month and addition to that, eBay has laid off about 100 employees.

Flipkart has been struggling to raise funds from the past few months and the latest round of funding will help the company to continue the competition from Amazon India. Moreover, there is also a report of Flipkart’s negotiations with the US retail giant Walmart to raise funds had not closed and the company is likely to invest in the e-commerce.

Source | Via