Amazon's big rival in India just got $2.5 billion


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. 

The 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. Read more…

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Source: Mashable
Amazon's big rival in India just got .5 billion

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