India’s most popular e-commerce company Flipkart has set a new benchmark by raising $1 billion in fresh round funding. Company is expected to announce this officially as early as next month. This is the highest round of funding by any internet company in India.
Half of the fresh funding will come from their existing investors Tiger Global, DST Global and Accel Partners. Rest amount will come from several new investors.
If we count this fresh funding, Flipkart has raised around $1700 million funds till date. This shows that Flipkart is growing faster that we think. Company is also eyeing for the IPO next year. In past, company has shown a new kind of revenue model by selling Motorola smartphone exclusively online. This was the first kind of effort when a smartphone was only available online. After success of Moto G and Moto E, now other retailers are also following the same way.
These are the key initiative of Flipkart in 2014
- Launch of Apparel brand Flippd
- Same Day Guaranteed Shipping service
- Flipkart
- Myntra Acquisition
- Moto X, Moto G and MOto E smartpones exclusive on Flipkart
- Exclusive launch of Xiaomi phones in India
- Flipkart’s tablet
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