India’s largest e-commerce marketplace Flipkart has closed a $1.4 billion funding round with backing from Chinese Internet giant Tencent and participation from Microsoft and eBay Inc, at a valuation of $ 11.6 billion, the company said on Monday.
This latest round of funding brings down the valuation from a previous high of $15 billion, but it underlies the fact that Flipkart, which was written off, has made a rebound to attract investors in the company.