Softbank Vision Fund Invests In India’s Flipkart
Flipkart Group, India’s leading e-commerce marketplace, has announced an investment — a mix of primary and secondary capital — from SoftBank Vision Fund, the world’s largest technology-focused investment fund. This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart, said a statement published on Flipkart website. More about the deal:
- Vision Fund joins Tencent, eBay and Microsoft in the current financing round, significantly increasing the investment capital available to Flipkart
- After this financing round, Flipkart will have in excess of $4 billion of cash on balance sheet
- This investment round allows Flipkart to further its mission to transform India and SoftBank to invest in a market leader with scale
- Flipkart didn’t disclose the size of the investment, but Indian media reports said it was at least $2.5 billion.
The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world’s premier technology companies — Tencent, eBay and Microsoft. After this financing round, Flipkart will have in excess of $4 billion of cash on its balance sheet.
The Flipkart Group is India’s largest e-commerce marketplace and includes group companies Flipkart, Myntra, Jabong, PhonePe and eBay.in. Launched in October 2007, Flipkart offers over 80 million products across 80+ categories and is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations that made online shopping more accessible and affordable for millions of customers.
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