Armed with over $4 billion in cash, India’s most valuable internet firm Flipkart Ltd is planning more start-up investments and buyouts as it seeks to widen its slender lead over Amazon India and diversify its business. Now, Flipkart is only seeking large, strategic deals that will directly help its business, the three people cited above said, requesting anonymity. This year, Flipkart has raised nearly $3 billion in fresh capital from SoftBank Group Corp., Tencent Holdings, eBay Inc. and Microsoft Corp. Flipkart is India’s most acquisitive internet firm. “Flipkart’s new M&A approach is similar to what the large Chinese internet companies and ventures have done in China over much of the past decade—buy out smaller rivals and pick up strategic stakes in other large internet start-ups.

Source: Mint October 22, 2017 18:33 UTC