【】

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 anywayThe 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.
"Very few economies globally attract such overwhelming interest from top-tier investors," Flipkart co-founders Binny and Sachin Bansal said in a joint statement. "It is recognition of India’s unparalleled potential to become a leader in technology and e-commerce on a massive scale."
Tweet may have been deleted
It may need every penny of that arsenal. Amazon CEO Jeff Bezos has decided India is the company's top prospective market abroad and pledged more than $5 billion to expansion efforts there.
Tweet may have been deleted
Softbank, a prolific tech investor thanks to its massive $100 billion Vision Fund, previously backed Flipkart rival Snapdeal and tried to broker a merger between the two companies before talks ultimately fell through last month.
“India is a land of vast opportunity," SoftBank CEO Masayoshi Son said in a statement. "We want to support innovative companies that are clear winners in India."
Softbank's investment fund, which is now one of Flipkart's biggest shareholders, is also backed by the government of Saudi Arabia, Apple, Qualcomm, and manufacturing heavyweight Foxconn, among others.
Flipkart also recently took over Ebay's operations in India as part of the investment deal.
Meanwhile, Amazon has been making moves of its own. It successfully introduced is discount extravaganza Prime Day in the country last month and recently won approval from the Indian government to start selling groceries.
Featured Video For You
Amazon's new fashion store will let you try on almost anything for free
TopicsAmazon
相关文章
Darth Vader is back. Why do we still care?
They saved the best for last in the first official trailer for Rogue One: A Star Wars Story, release2025-07-15- 自我救贖!林加德絕殺救主 周中歐冠曾讀秒送大禮_比賽www.ty42.com 日期:2021-09-20 00:01:00| 評論(已有302875條評論)2025-07-15
- 女足聯合隊在全運會上頻遭挑戰 水慶霞賽後激勵弟子_比賽www.ty42.com 日期:2021-09-19 10:01:00| 評論(已有302785條評論)2025-07-15
- 上海女足進4強盼與奧運隊會師 主帥:一直與水指導保持交流_勝利www.ty42.com 日期:2021-09-20 09:31:00| 評論(已有302927條評論)2025-07-15
Old lady swatting at a cat ends up in Photoshop battle
We all have that relative who gets annoyed with the cat.。This timeless photo of an old woman shooing2025-07-15- 國足封閉苦練需防心理疲勞 10月兩場裁判讓人憂慮_比賽www.ty42.com 日期:2021-09-20 10:31:00| 評論(已有302933條評論)2025-07-15
最新评论