Flipkart Raises Another Big Funding with $10 Billion Pre-Money Valuation
Indian e-Commerce sector is one of the most loved market for VCs and investment companies. And for Flipkart, this year is the golden year. Now the recent reports confirms that Flipkart has raised another $500-$600 million in funding from existing investors at a pre-money valuation of $10 billion. We can expect the official announcement soon.
According to sources, Tiger Global, Naspers, DST Global and others, have invested $50-100 Million each. They also received nominal funding from an unnamed new investors. We will have to wait for the official announcement to get the exact details about investors and funding amount. After this round of funding, total money raised by Flipkart will be around $2.3 billion. Tiger Global is the largest stakeholder in Flipkart which alone has invested $700 million in past 4 years.
This funding round is the third raise in this year. Flipkart has raised $210 million from DST Global in May 2014 and $1 billion in July this year. Sources also confirms that there are many new investors interested in investing in Flipkart but company is not interested in raising money from new investors right now.
If we talk about competitors, Snapdeal raised around $650 million from Softbank last month. Amazon has also doubled the cash invested in the country. But the battle is becoming interesting and Flipkart is surely ruling the market.
While Indian e-commerce market is facing big loss, it is interesting how world’s investors are putting their cash in this market. They surely have opinion that this market will change in coming years and will earn big cash for all.
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