Tencent Buys Stake In Flipkart From Binny Bansal

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Tencent Buys Stake In Flipkart From Binny Bansal
Image source – The Financial Express

Chinese technology major Tencent has bought a stake that is worth USD 264 million in Flipkart, from Binny Bansal, who is the co-founder of Flipkart through its European subsidiary.

Binny’s Flipkart stake came to around  1.84%  after selling a major part of his stake to Tencent Cloud Europe BV.  The news report stated that the transaction was completed the last year is 26th October 2021  where Tencent holds a 0.7% stake in Singapore- headquartered Flipkart and the details were also shared with the officials of the Government at the beginning of the current financial year of 2022.

Tencent Buys Stake In Flipkart From Binny Bansal

Flipkart had set up $3.6 billion at the time of funding that was led by SoftBank Vision Fund 2, CPP investments, Singapore Sovereign wealth fund GIC and Walmart. Binny Bansal, who has served as a chairman and CEO at Flipkart had to quit instantaneously after Walmart had taken over amid allegations of personal misconduct earlier.

While there are many companies in India where Tencent has invested in which the Government of India has even banned some of them namely PUBG. According to the PTI report e-mail, enquires were sent to Flipkart and Bansal did not revert back.

https://asianatimes.com/police-arrests-a-student-recording-nude-video-for-extortion/

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Ananta Banerjee
Ananta Banerjee
•An aspiring Journalist •Completed M.A in Mass Communication from St. Xavier's University, Kolkata •Has an intense passion for writing & exploring new fields

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