【】
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

Florida hurricane forecast remains uncertain, but trends in state's favor
For days, a war has been raging between two of the premiere computer models used to help predict the2026-06-14
屋漏偏逢連夜雨 !惠家康犯規破壞對手單刀 被紅牌罰下_譚凱_球員_廣州隊www.ty42.com 日期:2021-12-19 20:01:00| 評論(已有320479條評論)2026-06-14
何塞 :今天的失利不能怪任何球員 考慮賽程派出全華班首發_比賽_主教練_外援www.ty42.com 日期:2021-12-18 20:01:00| 評論(已有320300條評論)2026-06-14
大連人vs滄州首發:單歡歡領銜全華班PK布格拉汗_雄獅_比賽_陣容www.ty42.com 日期:2021-12-18 16:01:00| 評論(已有320278條評論)2026-06-14
Researchers create temporary tattoos you can use to control your devices
In the future, your tattoos could be much more than just ink designs. 。Scientists have created a new2026-06-14
王燊超 :定位球防守出現了鬆懈 踢好下一場比賽_山東泰山_聯賽_進攻www.ty42.com 日期:2021-12-19 20:31:00| 評論(已有320482條評論)2026-06-14

最新评论