Flipkart raises $1 billion to strengthen its bid to own India’s e-commerce space
It’s turning into quite a year for Flipkart. Today the e-commerce company from India has confirmed the much-reported rumor that it has raised $1 billion in fresh investment, as it eyes new verticals, expand its operations and stave off challenges from Amazon and eBay. The round reportedly An announcement confirms that the round includes participation from existing investors Tiger Global, Yuri Milner’s DST Global group, Accel Partners, ICONIQ Capital, Morgan Stanley Investment Management and Sofina. Prior to today’s news, Flipkart had taken just over $700 million from investors. The company most recently raised $210 million back in May, just after it acquired fashion-focused rival Myntra for an…
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