Flipkart's latest fund raising exercise, the 11th so far, is the biggest-ever since the company started the trend nearly a decade back in 2009.
The country's biggest online marketplace company today announced that it raised $1.4 billion from select investors such as Microsoft and China's Tencent. As a part of the deal, the company also received fund infusion from eBay for agreeing to buy the latter's India operations.
Since 2009, Sachin Bansal and Binny Bansal co-founded the e-commerce major, it has virtually raised capital every year with the exception of 2016 when the company faced a series of valuation markdowns and intense competition from the US-based online marketplace, Amazon.
Among the biggest fund-raising exercises, Flipkart had raised $1 billion in 2014 from slew of investors including Tiger Global, Naspers, Morgan Stanley and Accel Partners. In the same year, the company had also raised $700 million from a set of investors including Tiger Global and T Rowe Price.
Similarly in 2015, Flipkart got fund infusion of $700 million from Tiger Global and Qatar Investment Authority.
Below is the timeline of Flipkart's fund raising initiatives beginning from 2009.
Expansion through acquisitions
Over the years, Flipkart has also been involved in some high-profile acquisitions to boost specific categories. In order to give a leg-up to online fashion portals, the company first acquired Myntra in 2014 and followed it with the buyout of Jabong in 2016. Among other notable acquisitions, Flipkart bought PhonePe app last year and mobile payment company, Ngpay a year before.
Image courtesy Flipkart web portal
Published Date: Apr 10, 2017 05:43 pm | Updated Date: Apr 10, 2017 05:43 pm