Its been only three months that Flipkart made news by raising $200 million, the largest amount in the Indian e-commerce segment so far. And now one of India’s largest marketplace is in talks to further raise $125 million from its existing investors, Tiger Global Management Llc, Accel Partners, Iconiq Capital, and MIH.
The investment is being driven for Flipkart Holdings Singapore, an entity created early this year in order to comply with the Indian laws of FDI in e-commerce.
What’s exciting is that when the company had sold its front end operations to WS Retail India in February this year, it was speculated that this was the end of the one of the old e-commerce players on the Indian retail circuit. But with raising one of the largest investments three months back, Flipkart, quietly back-flipped and made a grand re-entry into the market. “Now who’s your daddy!” moment!
- Indie ebooks distributor Smashwords inks distribution deal with Flipkart.com (pagemeld.com)
- Flipkart: From a revenue-guzzler to an asset-light e-tailer (rediff.com)