Alibaba's bid to buy Flipkart for $6 billion failed: Reports
Wednesday, April 12, 2017, 6:53 PM
Chinese e-commerce giant Alibaba reportedly tried to buy Flipkart for $6 billion during the last quarter of 2016, but talks fell through at an early stage. Flipkart's valuation reached $15.2 billion in 2015, but was slashed to about $5.5 billion by investors by 2016 end. The acquisition proposal from Jack Ma-led Alibaba reportedly came amid multiple top-level exits at Flipkart.