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Ecommerce

Flipkart closes USD 1.4 bln funding round; acquires eBay India

Tuesday 11 April 2017 | 11:22 AM CET

Flipkart, India`s online retailer, has raised USD 1.4 billion from eBay, Microsoft, and Tencent.

Flipkart, whose exisiting investors include Tiger Global Management, Naspers Group, Accel Partners and DST Global, will also acquire eBay's India operations under the latest deal.

Flipkart and eBay have also signed an exclusive cross-border trade agreement, under which their customers will be able to access each other's inventory.

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