Monday, March 20, 2017

Flipkart raised $1 billion funding and will raise another $1 billion more

Flipkart said it has raised $1 billion funding and will raise another $1 billion more in next few months. Investors are Microsoft Corp., EBay Inc. and Tencent Holdings Ltd etc.

Also read: Social fitness app Fitso raises $200K

Already Amazon is spending lots of money in Indian market. So to compete with this Flipkart is already spending heavily on promotions and offering discounts in an effort that’s costing it millions of dollars a month.

The new funds put Flipkart in a strong position and this year’s going to be a direct face-off between Amazon and Flipkart.


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