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

According to reports from Livemints, the ecommerce company is now valued at $7 billion which is about 42000 crores. This is more than double the amount the company got from its last fund raiser that happened in May this year. The Bansal’s combined hold a 15 percent stake of the company that is valued at 6000 crores.

They are hoping to expand in the fashion department which will be a convenient thing after the acquisition of Myntra, a top fashion brand. They are also planning to hire 1000 new engineers for their R&D department and while hiring mobile and technology experts from Silicon Valley.

The success of their business hasn’t changed the duo. Though leading a billion dollar company, they lead simple lifestyles and cut cost where ever possible. They both live close to work, walk to work and also engage with employees during lunch whenever possible. Be it travel or stay, they make sure they spend reasonably.

"The billion-dollar funding will inspire entrepreneurs to get into ecommerce and investors too will have the confidence to back them," said Singhal. The words of Singhal are true to the meaning that it boosts the sphere of startups in India for many other Entrepreneurs. It won’t be long before we see other success stories in the internet space related to any kind of business.

It is going to be an interesting business to look in to for investors and the general people benefitting out of this business that caters to 22 million registered users and a lot more non registered users as well. The company will be expanding in terms of number of employees and in the expanse of the reach of the company.

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