Flipkart, which also owns the fashion retailers Myntra and Jabong as well as payments app PhonePe, initially wanted to raise anywhere between $500 million and $1 billion but is now seeking up to $1.5 billion, they said. Apart from online marketplace eBay, payments firm Paypal, Chinese gaming and messaging giant Tencent, and Microsoft, Flipkart is also in talks with Google Capital for the ongoing round, one of the people said. Flipkart, which also owns the fashion retailers Myntra and Jabong as well as payments app PhonePe, initially wanted to raise anywhere between $500 million and $1 billion but is now seeking up to $1.5 billion. On Monday, Flipkart and Microsoft announced a strategic partnership, which will start with Flipkart adopting Microsoft Azure as its exclusive public cloud platform. That deal, which has an additional component of advertising space for Flipkart in BCCL’s media properties, valued Flipkart at roughly $15 billion, the three people cited above said.

Source: Mint February 21, 2017 21:56 UTC