Flipkart To Raise $150M funding From Naspers and Tiger Global

India’s largest e-commerce orgnation Flipkart.com has completed it’s fourth round of funding. Flipkart is said to get $150 million funding amout from two new investors.

The investors names include MIH other is existing investor Tiger Global. MIH is a part of South African media company Naspers Group and San Francisco-based family office ICONIQ Capital. According to a report by IndiaDigitalReview.

The IndiaDigitalReview has cited several sources to confirm the funding But Flipkart, Tiger Global and Naspers have not confirmed the funding. When Medianama asked Karthik Srinivasan, AVP, Corporate Communications, Flipkart refused to confirm or deny the news of the funding.

Co Founder of Flipkart Sachin Bansal says “We are excited to complete fourth round of funding, which would fuel our growth plans, and help us achieve our stated ambition of hitting $1 billion in gross merchandise value by 2015,”.

Founded in 2007, FlipKart has 4,800 employees and services 50,000 orders a day. Its average order size is Rs.1,200. It has a user base of 4.5 million, of which 2.6 million are active customers (those who have shopped at least once in 12 months).

The report says that South African media conglomerate, Naspers, lead the funding round. And They investing $100 million and the rest amount came from Tiger Global.

One Reply to “Flipkart To Raise $150M funding From Naspers and Tiger Global”

  1. $150 Million, Oh my God! In these few years Flipkart has grown up like anything. Flipkart made the right business model by starting with Books. Lets see what happens in the next 2 years. Amazon just launched India store and e-reader. There will be a big competition.

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