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Thursday, March 9, 2017

Flipkart to raise $800 million

According to news Flipkart is planning to raise $800 million from various new and existing investors. But the funding would may come at a lower valuation of about USD 8-9 billion.

Flipkart is estimated to have raised over USD 3 billion with investments coming in from Tiger Global, DST Global, Steadview Capital and Accel Partners.

Also see: Flipkart to hire 20%-30% more this year

The fresh funding would help the company stave off competition from rivals like Amazon as well as latest entrant Alibaba.

Amazon, on the other hand, has committed an investment of USD 5 billion in the Indian market.

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