[TechWeb] reported on February 5th news, according to foreign media reports, informed sources, the Alibaba is seeking a stake in India’s largest electricity provider platform Flipkart, but the request to Flipkart down $15 billion valuation so as to facilitate transactions. Currently, the transaction is still in the negotiation stage.
May 2014, Flipkart from the Russian Internet investment company DST Global, Tiger GlobalManagement, as well as other investment companies to raise $210 million, which makes its valuation doubled 5 times, now up to $15 billion.
in India, Flipkart, Snapdeal and Amazon subsidiary in India, the three largest electricity supplier market. Last August, the Alibaba had a $500 million strategic investment in Snapdeal, the Senate voted and Fu Chi Kang and Softbank group, Fu Chi Kang is the main business of millet and HUAWEI mobile phone assembly.
reported that Alibaba also made a similar offer to Snapdeal, asking Snapdeal to lower its valuation of $6 billion 50 million.
the past two years, the global electricity supplier giants have invested heavily in the India electricity market, but the momentum is gradually become rational. So, startups like Flipkart and Snapdeal want to succeed in investing, so it’s necessary to make some compromises in the company’s valuation.
on the other hand, Flipkart and Snapdeal need to make up for the expansion of the financial pressure, they need to attract investors attention, access to financial support.
additional threat from Amazon, Flipkart, Snapdeal and Amazon in India, a subsidiary of a total of about $7 billion in investment, the size of the total turnover of electricity supplier close to India in 2014. (open air)