comscore eBay likely to merge with Flipkart, could invest up to $500 million in fresh funding: Report
News

eBay likely to merge with Flipkart, could invest up to $500 million in fresh funding: Report

Flipkart could raise up to $1.5 billion in fresh funds from eBay and China’s Tencent Holdings.

flipkart-logo-resized

News about Flipkart s fresh funding has been doing rounds for quite some time now. The e-commerce company was last known to raise $1.5 billion (Rs 10,040 crore approximately) from potential investors like Microsoft, eBay, PayPal, Google Capital and Tencent Holdings. A new report now says that among the investors, eBay and Tencent Holdings are leading in funds for Flipkart. It is also said that the investment by eBay could lead to its Indian arm merging with Flipkart altogether. Also Read - iPhone 11, iPhone XR up for grab with massive discount on Flipkart Big Saving Days sale

Also Read - Flipkart Big Saving Days sale begins: Pixel 4a, Realme X7, Samsung Galaxy F62, more on discount

Also Read - Redmi Note 10S with Rs 1,000 discount on Amazon sale: Check offer details, new price

This proposed funding would lead Flipkart to a stand where it can compete with its main rival Amazon. It will also help Flipkart go against China s Alibaba who is looking into entering the Indian market. ET reports that Flipkart s funding talks with eBay are at an advanced stage now and this investment could lead to the former either acquiring or merging with the latter. The report further stated that eBay could be investing up to $500 million, thereby acquiring majority stake in the company. It is also suggested that a third investor could participate in the funding round. The third investor could be among Microsoft, PayPal or Google Capital, companies that have been known to be involved in Flipkart s funding talks.

The $1.5 billion funding for Flipkart was said to put the company at a valuation of $10-12 billion, which is actually lower than its last funding around 18 months ago wherein the company was valued at $15 billion. But if the funding talks do turn out to be true, then it would give the company a major boost against arch rival Amazon which received Rs 7,000 crore from its parent company in 2016. It would also make Flipkart stand strong against new entrant Alibaba which recently invested $177 million for Paytm Mall. In response to our queries, a Flipkart spokesperson said, As a company policy, we do not comment on market speculations . ALSO READ: Paytm launches new e-commerce platform Paytm Mall

Flipkart has been going through a tough couple of months with the company reporting a loss of Rs 2,306 crore in fiscal year 2016. Flipkart s loss in 2016 was the double of what the company reported in fiscal year 2015 which was Rs 1,096 crore. Prior to the funding talks, Flipkart had also recently restructured its top management with Kalyan Krishnamurthy as its new CEO. Krishnamurthy is a former Tiger Global executive, who is currently the largest shareholder of Flipkart. ALSO READ: Kalyan Krishnamurthy is Flipkart s new CEO, Nitin Seth to serve as COO

The reported funding and suspicions about possible merging of eBay with Flipkart would also benefit eBay whose business has not been able to catch up with the latest e-commerce trends in India. eBay had entered the Indian market back in 2004 but was soon pushed down with majors like Amazon and Flipkart taking control. The company then invested $134 million in Snapdeal back in 2014 which had been brought down with funds from Foxconn and Alibaba in 2015. ET reports that eBay s current stake in Snapdeal has gone down to a mere 6 percent.

BONUS VIDEO: Moto G5 Plus Review

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: March 16, 2017 4:39 PM IST
  • Updated Date: March 16, 2017 4:39 PM IST



new arrivals in india

OnePlus Nord CE 5G
OnePlus Nord CE 5G

22,999

iQOO Z3
iQOO Z3

19,990

Realme C25s
Realme C25s

9,999

Poco M3 Pro 5G
Poco M3 Pro 5G

13,999

Realme X7 Max 5G
Realme X7 Max 5G

26,999

Oppo F19
Oppo F19

18,990

Motorola Moto G40 Fusion
Motorola Moto G40 Fusion

13,999

POCO M2 Reloaded
POCO M2 Reloaded

9,499

OPPO A74 5G
OPPO A74 5G

17,990

Oppo A53s 5G
Oppo A53s 5G

14,990

Vivo V21 5G
Vivo V21 5G

29,990

Realme C25
Realme C25

9,499

Realme C21
Realme C21

7,999

Realme C20
Realme C20

6,799

Motorola Moto G60
Motorola Moto G60

17,999

iQOO 7
iQOO 7

31,990

Samsung Galaxy M42 5G
Samsung Galaxy M42 5G

21,999

Xiaomi Mi 11 Ultra
Xiaomi Mi 11 Ultra

69,999

Xiaomi Mi 11X Pro 5G
Xiaomi Mi 11X Pro 5G

39,999

Xiaomi Mi 11X
Xiaomi Mi 11X

29,999

Realme 8 5G
Realme 8 5G

13,999

Samsung Galaxy F02s
Samsung Galaxy F02s

8,999

Samsung Galaxy F12
Samsung Galaxy F12

10,999

POCO X3 Pro
POCO X3 Pro

18,999

Realme 8 Pro
Realme 8 Pro

17,999

Realme 8
Realme 8

14,999

Vivo X60 Pro Plus
Vivo X60 Pro Plus

69,990

Vivo X60 Pro
Vivo X60 Pro

49,990

Vivo X60
Vivo X60

37,990

OnePlus 9 Pro 5G
OnePlus 9 Pro 5G

64,999

OnePlus 9R 5G
OnePlus 9R 5G

39,999

OnePlus 9 5G
OnePlus 9 5G

49,999

Samsung Galaxy A72
Samsung Galaxy A72

34,999

Samsung Galaxy A52
Samsung Galaxy A52

26,499

Micromax In 1
Micromax In 1

10,499

Asus ROG Phone 5
Asus ROG Phone 5

49,999

Samsung Galaxy M12
Samsung Galaxy M12

10,999

Motorola Moto G30
Motorola Moto G30

10,999

Motorola Moto G10 Power
Motorola Moto G10 Power

9,999

Oppo F19 Pro Plus 5G
Oppo F19 Pro Plus 5G

25,990

Oppo F19 Pro
Oppo F19 Pro

21,490

Xiaomi Redmi Note 10 Pro Max
Xiaomi Redmi Note 10 Pro Max

18,999

Xiaomi Redmi Note 10 Pro
Xiaomi Redmi Note 10 Pro

15,999

Xiaomi Redmi Note 10
Xiaomi Redmi Note 10

11,999

Realme Narzo 30A
Realme Narzo 30A

8,999

Realme Narzo 30 Pro
Realme Narzo 30 Pro

16,999

Infinix Smart 5
Infinix Smart 5

7,199

Samsung Galaxy F62
Samsung Galaxy F62

23,999

Samsung Galaxy A12
Samsung Galaxy A12

12,999

Nokia 5.4
Nokia 5.4

13,999

Nokia 3.4
Nokia 3.4

11,999

Realme X7 Pro 5G
Realme X7 Pro 5G

29,999

Realme X7
Realme X7

19,999

Vivo Y31
Vivo Y31

16,490

Oppo Reno5 Pro 5G
Oppo Reno5 Pro 5G

35,990

Samsung Galaxy S21 Ultra 5G
Samsung Galaxy S21 Ultra 5G

1,05,999

Samsung Galaxy S21 Plus 5G
Samsung Galaxy S21 Plus 5G

81,999

Samsung Galaxy S21 5G
Samsung Galaxy S21 5G

69,999

Vivo Y12s
Vivo Y12s

9,990

Vivo Y51A
Vivo Y51A

17,990

Samsung Galaxy M02s
Samsung Galaxy M02s

8,999

Xiaomi Mi 10i
Xiaomi Mi 10i

21,999

Oppo A15s
Oppo A15s

11,490

Tecno Spark 6 Go
Tecno Spark 6 Go

8,499

Vivo V20 2021
Vivo V20 2021

24,990

Vivo Y20A
Vivo Y20A

11,490

Xiaomi Redmi 9 Power
Xiaomi Redmi 9 Power

11,999

Motorola Moto G9 Power
Motorola Moto G9 Power

11,999

Motorola Moto G 5G
Motorola Moto G 5G

20,999

Vivo V20 Pro
Vivo V20 Pro

29,990

Xiaomi Mi 10T
Xiaomi Mi 10T

35,999

Xiaomi Redmi 9i
Xiaomi Redmi 9i

8,299

Xiaomi Mi 10T Pro
Xiaomi Mi 10T Pro

39,999

Infinix Hot 10
Infinix Hot 10

9,999

Vivo V20 SE
Vivo V20 SE

20,990

Vivo V20
Vivo V20

24,990

Micromax In 1b
Micromax In 1b

6,999

Micromax In Note 1
Micromax In Note 1

10,999

OnePlus 8T
OnePlus 8T

42,999

Samsung Galaxy F41
Samsung Galaxy F41

15,499

Apple iPhone 12 Pro Max
Apple iPhone 12 Pro Max

1,29,900

Apple iPhone 12 Pro
Apple iPhone 12 Pro

1,19,900

Apple iPhone 12 Mini
Apple iPhone 12 Mini

69,900

Apple iPhone 12
Apple iPhone 12

79,900

Poco X3
Poco X3

16,999

Realme Narzo 20A
Realme Narzo 20A

8,499

Realme Narzo 20
Realme Narzo 20

10,499

Realme Narzo 20 Pro
Realme Narzo 20 Pro

13,999

Oppo F17
Oppo F17

16,990

Samsung Galaxy M51
Samsung Galaxy M51

22,999

Poco M2
Poco M2

10,999

Oppo F17 Pro
Oppo F17 Pro

22,990

Realme 7 Pro
Realme 7 Pro

19,999

Realme 7
Realme 7

14,999

Xiaomi Redmi 9A
Xiaomi Redmi 9A

6,799

Vivo Y20
Vivo Y20

12,990

Xiaomi Redmi 9
Xiaomi Redmi 9

8,999

Nokia 5.3
Nokia 5.3

13,999

Best Sellers