Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
Publish Date: | Sun, 12 Jun 2022 10:04 PM (IST)
Chinese tech giant Tencent has bought a major stake in e-commerce company Flipkart. The company bought the shares of Flipkart’s co-founder Binny Bansal, for which he gave $ 264 million or about Rs 2,060 crore. Tencent, under its European subsidiary, has finalized the deal. Binny Bansal has been the co-founder of Flipkart, but after the deal with Tencent, Bansal has only 1.84% shares of Flipkart left. Let us tell you that Flipkart is headquartered in Singapore and its service is limited to India.
This deal between Flipkart and Tencent has been finalized in Singapore. Although this deal was finalized only on October 26, 2021, but the government officials came to know about it in the current financial year 2022-23. After buying shares from Binny Bansal, Tencent now owns 0.72% of Flipkart’s shares, which are valued at around $264 million. Let us tell you that Tencent has invested in many companies in India. The app of Tencent Company was PubG, which has been banned in India by the Government of India.
This is how Flipkart started
In the year 2007, Binny Bansal and his partner Sachin Bansal started the e-commerce company Flipkart together. After considerable success, Sachin sold his entire stake in Flipkart and left the company. Binny still remains with Flipkart, but gradually he is also selling his shares. After the latest deal, Binny Bansal now has only 1.84 percent stake in Flipkart.
Why did the shares have to be sold?
Actually, during July 2021, raising funding for Flipkart was proving to be a big task for Binny Bansal and Tencent. During this, this deal was done between Bansal and Tencent as part of the fund raising exercise. After raising $3.6 billion in that funding round, Flipkart’s valuation had risen to $37.6 billion. Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in this round of funding.
Posted By: Shailendra Kumar
