Flipkart Secures 1 Billion Dollers In Fresh Round Of Funding

Flipkart Secures 1 Billion Dollers In Fresh Round Of Funding

Flipkart, India''s largest e-commerce company, also the dominating shopping site in the country, has reportedly raised a mind-boggling $1 billion in a fresh round of funding. This money comes from not just existing investors such as Tiger Global, DST and Accel Partners, but also from several new investors.

To date, Flipkart has raised $1.7 billion in funding (including this $1 billion), with the company''s valuation at $5 billion.


Flipkart Secures $1 Billion In Fresh Round Of Funding

Flipkart has also launched customer service initiatives like same-day delivery in multiple cities along with at-home trials for certain fashion categories. It had crossed USD 1 billion in sales in March and also continues to discount heavily along with other players like Amazon and Snapdeal.

Including this round, the company has secured a total funding of USD 1.7 billion in seven round of investments. It is backed by nine investors and had acquired  three companies till date such as Myntra, LetsBuy.com and WeRead.  The company also having 8 competitors like Billdesk, Shopclues.com, Jabong.com, Snapdeal, Indiaplaza and others.

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