【】
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

Carlos Beltran made a very interesting hair choice
Apparently the Texas Rangers' Carlos Beltran is taking hair advice from another Carlos in sports --2026-09-11
How to turn on and access your App Privacy Report in iOS 15
We're all aware that our apps are collecting our personal data,but wouldn't you like to know just ho2026-09-11
How to change your iPhone's app icons
If your phone doesn't convey your personality in everypossible way, is it even really your phone?Tot2026-09-11
How to unblock someone on Facebook
This is a story about the power of redemption. Everyone makes mistakes in life and sometimes those m2026-09-11
One thing's for sure: you're never too old to learn.。Massachusetts woman Clare Picciuto turned 100 F2026-09-11
Amazon knows it has a bit of a reputation problem when it comes to customers' privacy. On Tuesday, t2026-09-11

最新评论