VFX Flipkart raises $600 mn in another round of investments; is now valued at nearly $10 billion -

Flipkart raises $600 mn in another round of investments; is now valued at nearly $10 billion

India’s largest e-commerce website Flipkart has raised close to $600 million in a fresh round of investments to boost and fend off its competitors like Amazon and Snapdeal. The company is now believed to be valued at around $10 billion with each investor devoting $50-100 million into the website revealed a source to TOI.

This is the third round of investment for the company in this year itself with the previous two investments seeing $210 million and $1 billion respectively. The old investors have come back to invest into the e-commerce giant with only one new investor investing a nominal amount. One of the big backers of Flipkart, Tiger Global – Wall Street investment firm has put in $700 million over the four years and is the largest stockholders in the e-commerce site. Other investors have been South Africa based Naspers, DTS Global and others.

Flipkart has already raised $3 billion in the revenues this year itself with exclusive tie-ups with mobile brands like Xiaomi and Motorola and also with acquisition of fashion brand website Myntra. The news comes with Softbank pumping in $627 million into Snapdeal and Amazon investing more than $2 billion into its India operations.

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