Reading about e-retail everyday, I have realised that Flipkart has been getting all the eyeballs for all good and bad reasons. Amidst the questions arising on its survival, a news of revival emerges.
If its Flipkart, it has to be big, hence this time it is the largest investment in online retail space. The e-retailer raises $200 million, after various news have been flooding regarding the sale of front end operations, stopping of deliveries in UP and states around of SKUs beyond certain price and others.
The much wanted investment was made by its existing investors Tiger Global, Naspers, Accel Partners and Iconiq Capital.
According to Sachin Bansal, the announcement will only put the media and business queries on whether or not the e-commerce business worth it.
“In 2011 we set a goal of reaching 1 billion in GMV by 2015. We are more than half way there already and we should be able to reach the target before 2015,” Bansal reportedly divulged.
- Flipkart raises $200 m from existing investors (sunandchronicle.wordpress.com)
- Reuters: India’s Flipkart Raises $200 Mln through Private Equity (pehub.com)
- Indian Online Retailer Flipkart Raises $200 Million (blogs.wsj.com)