Binny Bansal’s email to Flipkart’s employees is perhaps a good place to start this story. On Thursday, SoftBank announced that it has invested close to $2.5 billion in the company. This investment is an extension of Flipkart’s funding round in April this year, when Tencent, ebay and Microsoft invested in the company. Needless to say, Bansal was enthused. To quote from his email:

“This is truly a watershed moment for the Flipkart Group and India. This is the largest ever private investment round in an Indian technology company. And coming from a visionary investor renowned for backing innovative, winning companies, it is a big vote of confidence in Flipkart.