Flipkart Raises 6,000 Crore In Funds, The Largest By An Indian E-Tailer

By SiliconIndia   |   Wednesday, 30 July 2014, 13:53 Hrs
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BANGALORE: The story of Flipkart and the geniuses behind it is no new tale. It has become the inspiration and motivational drive for young entrepreneur enthusiasts. They are at the helm of revolutionizing the ecommerce business in India and are also taking the fame and glory of India origin services to compete with international ecommerce companies in India.

The company, Flipkart, which was started with an initial investment of 4 lakhs has come a long way. Co founded by two IITians from Delhi who aren’t related to each other at all, has grown to become a billion dollar company. The first of its kind in the ecommerce industry in terms of revenue in India, they aim to take this company to the $100 billion club.

The latest news is that Flipkart has joined the group of a billion dollar companies in India. The Bansal’s are almost as rich as the Co-founders of Infosys. Flipkart raised $1 billion in a fresh round of fundraisers, which helped them reach this mark. The Bansal’s have a combined net worth of 6000 crores. This is very closer to the net worth of the four-member Murthy, which is around 8,700 crore, while the Nilekani family's net worth stands at 6,500 crore.

Flipkart witnessed a remarkable growth in a short span of time, witnessing the company’s sales jump from $10 million to $2 billion annually in a span of 3 years, which is 100 times growth. "Flipkart is much bigger today than we or our investors had ever imagined," Sachin Bansal said. They also said that there is a revolution in the ecommerce industry and it expects that in the next 10 years it will have many other internet retail companies in the $100 billion in the internet space.

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