Amazon's big rival in India just got $2.5 billion
Japanese telecom and investment giant Softbank just made sure Flipkart has plenty of cash to fight off Amazon's aggressive push into India.
The firm poured $2.5 billion into the e-commerce giant in what the company claims is the biggest ever private funding deal for a tech company based in India.
SEE ALSO: Amazon may not always have the best prices, but that doesn't stop people from shopping there anyway
The move comes after Microsoft, Ebay, and Chinese tech giant Tencent all lined up behind Flipkart with a then-record-breaking $1.4-billion investment of their own earlier this year. Between the two infusions, Flipkart now has a war chest of around $4 billion. Read more...
More about Amazon, Softbank, Flipkart, Business, and Consumer Tech
COntributer : Mashable http://ift.tt/2wN4yyI
Amazon's big rival in India just got $2.5 billion
![Amazon's big rival in India just got $2.5 billion]()
Reviewed by mimisabreena
on
Friday, August 11, 2017
Rating:
No comments:
Post a Comment