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SoftBank's Vision Fund acquires stake in Flipkart

Reuters  |  MUMBAI 

MUMBAI (Reuters) - A tech fund backed by Japan's SoftBank Group has picked up one of the biggest stakes in India's leading homegrown online retailer Flipkart, the Bengaluru headquartered firm said in a statement on Thursday.The SoftBank Vision Fund has invested in Flipkart via a mix of direct capital infusion and buying out stakes from some of the firm's existing investors, the statement said without giving details.Flipkart will have more than $4 billion of cash after this investment, which is part of the same funding round in which Tencent, eBay and Microsoft also participated earlier.The ...

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First Published: Thu, August 10 2017. 14:21 IST
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