NEW DELHI -- Flipkart, India's largest online retailer, on Monday announced it has raised a whopping $1.4 billion from Tencent Holdings, eBay and Microsoft in its biggest-ever funding round since its inception a decade ago, a deal which will help it take on its bitter rival Amazon more aggressively.
The funding round, which values the company at $11.6 billion -- a decline from its peak valuation of $15 billion in 2015, comes amid speculation that Flipkart is in talks to buy its smaller competitor Snapdeal, another homegrown e-tailer which is backed by Japan's SoftBank.
