The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MUMBAI, India — India's top e-commerce firm Flipkart has raised $1.4 billion from Tencent Holdings Ltd, Microsoft Corp and eBay Inc, the company said in a statement on Monday.
Flipkart will have a valuation of $11.6 billion after the latest funding round, which was its biggest ever, the statement added.
The news comes amid strong but unconfirmed speculation that Flipkart is looking at a potential takeover of smaller rival Snapdeal.
As part of the fundraising, eBay invested $500 million in Flipkart for a stake. In exchange, the two companies will merge their operations in India and Flipkart will own and operate eBay's business in the South Asian country when the deal closes later this year.
EBay said in a separate statement it did not expect the deal to have any "material impact" on its guidance provided in January.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.