What Flipkart Will Do With $1 Billion
BANGALORE: The online business in India is running vigorously, Flipkart is one name that has gained huge attention all these years in this industry.
Flipkart, the e-commerce giant, has raised over $1 billion (
6, 000 crore), which is expected to be the biggest ever fund-raising by an Indian e-commerce company.
Flipkart raised about $570 million since July 2013 in three rounds and $760 million since its launch in 2007.
Flipkart is booming in its operations rapidly and competing with Amazon and other home-competitor Snapdeal. Whereas, Snapdeal has raised funds of $100 million (600 crore) in May from Temasek, BlackRock, Amazon has been on a continuous verge of pumping money out of its India operations. Amazon has rapidly spread to over 25 product categories.
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