eBay, Tencent may pick up stake in Flipkart for $1 billion

Even with the $1 billion cash infusion, it isn't clear if Flipkart will step up discounting

eBay and Tencent are likely to pick up stake in India's largest e-commerce marketplace Flipkart with an investment of $1 billion, as they look to get a stronghold in the country's fast-growing online retail space.

According to a Times of India report, the latest funding round values the Bengaluru-based firm at $11 billion, lower than the $15.2 billion valuation it had achieved in its previous round. However, this figure is far higher than the $5.39 billion valuation mutual fund investors such as Morgan Stanley have given Flipkart.

Flipkart has been in talks to raise funds for several months now, with the valuation