Flipkart, India’s leading e-commerce platform, recently announced that it has raised $400 million in a funding round led by SoftBank Vision Fund. The round also saw participation from other investors including Microsoft, eBay, and Tencent. This new round of funding brings Flipkart’s total valuation to around $11.6 billion, making it the most valuable internet company in India.
Overview of Flipkart:
Flipkart is India’s leading e-commerce platform, founded in 2007 by Sachin Bansal and Binny Bansal. The company is headquartered in Bengaluru and offers a wide range of products that include electronics, fashion, home appliances, books, and more. It has become the most popular e-commerce platform in India and has been able to maintain its market share even in the face of competition from global players such as Amazon.
Flipkart’s Funding History:
Flipkart has raised over $7 billion from a string of investors since its founding in 2007. The company has received funding from venture capital firms such as Accel Partners, Tiger Global Management, and DST Global, as well as strategic investors such as Microsoft, eBay, and Tencent. In 2014, Flipkart raised a $1 billion round from a consortium of investors led by Tiger Global. This was followed by a $700 million round from a consortium of investors led by DST Global in 2016.
SoftBank is the latest investor to invest in Flipkart. The Japanese conglomerate led a $400 million funding round in the company. This brings Flipkart‘s total valuation to around $11.6 billion and makes SoftBank the largest shareholder in the company with a 20% stake. This is the first major investment by SoftBank in an Indian startup since its $2.5 billion investment in Paytm in 2017.
Apart from SoftBank, Microsoft, eBay, and Tencent also invested in Flipkart’s latest funding round. Microsoft invested $200 million, while eBay and Tencent both invested $50 million. Microsoft’s investment will help Flipkart leverage its cloud computing capabilities, while eBay and Tencent’s investments will help the company strengthen its e-commerce platform.
Flipkart’s latest round of funding is a major boost for India’s e-commerce industry. Flipkart‘s success has been a major driver of growth in the Indian e-commerce sector, and the company’s latest round of funding will help the company solidify its position as the market leader. The new funding will also help Flipkart invest in new technologies, build new capabilities, and expand its product offerings. This will bring new opportunities for growth and innovation in the Indian e-commerce market.