Tencent picks up 264M stake in Flipkart

Tencent buys 0.72% stake in Flipkart through Binny Bansal

Here are the details


What has happened?

Chinese giant Tencent has picked up 0.72% stake in Flipkart

The stake has been bought through Binny Bansal

Binny Bansal is the co-founder of Flipkart

More details

The deal took place after the July funding

The deal has taken place in Singapore

Tencent has invested a total of $264 million


Walmart still holds majority, controlling stake

Binny Bansal now holds 1.84% stake in Flipkart

Tencent Cloud Europe BV is now a minority shareholder

Flipkart financials

Revenue: Rs 42,941 crores

Net loss: Rs 2,445 crores

Total expenses: Rs 10,996.3 crores

Are you a Flipkart shopper?

Here is our review of the Flipkart Axis Bank with 5% cashback!