Flipkart raises $1 billion to strengthen its bid to own India’s e-commerce space
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It’s turning into quite a year for Flipkart. Today the e-commerce company from India has confirmed the_much-reported rumor that it has raised $1 billion_in fresh investment, as it eyes_new verticals, expand its operations and stave off challenges from Amazon and eBay. The round reportedly includes participation from_existing investors Tiger Global, Yuri Milner’s DST Global group, Accel Partners,_ICONIQ Capital, Morgan Stanley Investment Management and Sofina. Prior to today’s announcement, Flipkart had taken_just over $700 million from investors. The company most recently_raised $210 million back in May, just after it acquired fashion-focused rival Myntra for an undisclosed fee which was said to...
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