Flipkart secures USD 200 million from existing investors including Naspers, Accel and Tiger Global
Flipkart has raised USD 200 million from its existing investors including Naspers, Accel and Tiger Global. It is the largest amount to be invested in an e-commerce company in India. The funds will be used for building and strengthening Flipkart’s technology capabilities, bolstering the robust supply chain and developing the talent pool.Previously, Flipkart raised a $150 million funding round in August 2012 and since then has been coming up with new developments. Flipkart launched its marketplace earlier this year which is essentially a virtual mall giving shoppers access to multiple brands and sellers under one roof. And more recently, they launched the online payment solution- PayZippy.
With this investment, Flipkart aims to reach their goal of $1 billion GMV by 2015 and also aim for bigger milestones in the future.
Sachin Bansal, Co-founder and CEO of Flipkart.com said,
This investment validates the belief that our investors have not only in our capabilities as a market leader – but also in the potential of e-commerce in India.
Some interesting stats:
- Registered users - 96 lakhs
- More than 10 lakh unique visitors every day
- Peak items shipped in a day - 1.3 lakhs (June 2013)
Flipkart also has a strong developer culture which is showcased via their annual Hack Days. See our coverage of the Hack Days for 2011 and 2012.
Website: Flipkart
