India's ecommerce giant Flipkart raises US$1B: Report
If the news, as reported by a prominent media platform in India, is true, the new investment is one of the biggest fund raises globally this yearBy Maneka Tanwani 23 Jul, 2014
Flipkart has raised another round of funding, according to a report by Economic Times, one of the leading business newspapers in India. And this time the amount is mind-boggling! The India e-commerce giant has raised US$1 billion in the latest round of funding, the report says.
It said that the deal is done and the official announcement should come in a week or two. The investment is one of the biggest fund raises globally this year.
Yuri Milner, Founder, DST Global in an earlier conversation said, “Flipkart is one of the fastest growing internet companies globally, led by visionary founders. It is well placed to capitalise on the significant opportunity in the fast growing Indian e-commerce market.”
Flipkart’s other investors include Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital.