Flipkart Getting More Profit

Flipkart Getting More Profit

In what can be considered as a landmark moment, online retail store Flipkart.com has raised another $200 million (roughly Rs1,200 crore) from its existing investors. The deal is being referred to as the single-largest round of funding for an Indian e-commerce company. It is also the fifth round of funding for the retailer. MIH (part of South Africa’s Naspers), Tiger Global, Accel Partners and Iconiq Capital are all a part of this latest deal. Sachin Bansal, Chief Executive, Flipkart, was quoted as saying, “There was a lot of scepticism about Flipkart and e-commerce in India. This funding refutes that. We see this as a great validation.”

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