India's top e-commerce firm Flipkart has raised $1.4 billion from Tencent Holdings Ltd, Microsoft Corp and eBay Inc, the company said in a statement on Monday.
Flipkart will have a valuation of $11.6 billion after the latest funding round, which was its biggest ever, the statement added.
The news comes among strong but unconfirmed speculation that Flipkart is looking at a potential takeover of smaller rival Snapdeal.
As part of the fundraising, eBay invested $500 million in Flipkart for a stake. In exchange, the two companies will merge their operations in India and Flipkart will own and operate eBay's business in the South Asian country when the deal closes later this year.
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