Flipkart reportedly looking to raise another billion dollar funding

[The Knight]

It looks like Flipkart is eyeing to raise another round of funding that may be between $700 million and $1 billion, as per latest report from Livemint.

The homegrown e-commerce player is currently valued at $6 billion and is expected to reach $11-$12 billion after the fresh round of funding. As per the report minimum three new investors will participate in the latest round of funding, which is expected to be closed within the next 45 days. Qatar Investment Authority, the sovereign wealth fund of Qatar, is one of the new investors Flipkart, said the report.

The prospective round of funding will help Flipkart to pursue its aggressive market share acquisition strategy. Flipkart secured $210 million from DST Global in May this year that was followed by the whopping $1 billion (Rs 6,000 Cr) funding from new and existing investors in July.

via

 

[swatkats]

$11 Billion valuation. Lol. Overvalued same like Uber. I doubt even after its Funding its value would be $6 Billion.

 

[Onemufc]

Brace yourself for the Flopkart posts and people still bitter

 

[swatkats]

Flipkart no longer a Pvt Ltd company

Along with the latest funding round, Flipkart Limited (incorporated at Singapore) has filed with ACRA Singapore for conversion to a Public Company. The company further clarified,

This is a mandatory procedure for all companies where the number of shareholders exceeds 50. This filing ensures we are in compliance with the laws of Singapore and is in no way indicative of any upcoming IPO or of any corporate activity that the company is engaged in either in Singapore or any other part of the world.

One of the fastest growing companies of the world, Flipkart has added more than 6000 employees in last 6 months and now is 20000 people strong. The company boasts of 26 million registered users and delivery of 5 million shipments per month clocking over 8 million daily visits.

http://yourstory.com/2014/12/flipkart-700-million-funding-pubic-company/

• Amount Raised in 2014 : Rs. 11,460 Crores
• Total amount raised till date : Rs. 14,700 Crores
• Valuation : Rs. 69,000 Crores