Tencent, eBay, Microsoft put $1.4B into Flipkart funding

|About: eBay Inc. (EBAY)|By:, SA News Editor

Tencent (TCEHY -0.3%), eBay (EBAY +0.8%) and Microsoft (NASDAQ:MSFT) have put $1.4B into the latest funding round for Flipkart (Private:FPKT).

That's at post-transaction valuation of $11.6B, and it includes tighter dealings between eBay and the Indian e-commerce marketplace. EBay will sell its eBay.in business to Flipkart and make a cash investment in that business, which will operate as an independent entity under its new ownership.

The two also have an exclusive trade arrangement where each firm's customers will have access to inventory provided by the other's sellers, providing for Flipkart sellers to expand sales globally.