India E-Commerce Giant Flipkart Raises Another $200M From Existing Investors

India E-Commerce Giant Flipkart Raises Another $200M From Existing Investors

Homegrown Indian e-commerce site Flipkart has lifted an additional $ 200 millionfrom existent investors, accordingto reportsin Indian media.The Economic Times saysthe understandingis Flipkart’slargestto date. Flipkart competeswith assortedother internal e-commerce players including Snapdeal and Myntra. Amazonhasalso not long ago enteredthe Indian market.

Flipkart,which sells the operationofgood together with books, clothes, song& cinemaand consumer wiring items, lifted $ twenty millionfrom Tiger Global, behindin 2011. Accordingto CrunchBaseitalso lifted a $ 150 million turn final August, againfromthe same investors.

Existing investorsin Flipkart embody Tiger Global Management, Naspers, Accel Partnersand Iconiq Capital.The Economic Times reportsthatall 4 participatedinthenew round,with MIH, thepartof Naspers, you dotheirportionofthe investment. Flipkarthas right away lifted the sumof around $ 380 million, together withthe ultimate turn (its fifth).

The journal reportsthat Flipkartwillusethenew appropriationfor investmentsin“technology, supply chain, industrialisationand people development”. Indian tech blog,the NextBigWhat, also privately mentions Flipkart’s e-books commercial operationand datacenter capabilitiesas areasof focus, alongwith supply sequenceand technology.

Increasingits shipping capabilitiessoitcan hoop“millionsof shipments the day”is the single targetforthenew round, accordingto Flipkart CEO, Sachin Bansal. "Wewillalsomake investmentsin bent pool.Thereisno readymade bentin India.Wewill deposit heavilyoncreatingand employing such talent," Bansalisalso quotedbythe NextBigWhatas saying.

"Weare removinginto thebigger joiningthanwhatwehave finishedso far,"he added.

Natasha Lomas
Source : http://feedproxy.google.com/~r/Techcrunch/~3/3ZgxYntYAas/

You now read article about India E-Commerce Giant Flipkart Raises Another $200M From Existing Investors and you will found this article with url https://dailygadget7.blogspot.com/2013/07/india-e-commerce-giant-flipkart-raises.html. You may share this article India E-Commerce Giant Flipkart Raises Another $200M From Existing Investors with also write the source url : https://dailygadget7.blogspot.com/2013/07/india-e-commerce-giant-flipkart-raises.html