Rags to riches: Flipkart’s journey from Rs 4,00,000 to $5-6 billion – The Times of India on Mobile

http://m.timesofindia.com/tech/tech-news/Rags-to-riches-Flipkarts-journey-from-Rs-400000-to-5-6-billion/articleshow/39341277.cms

Rags to riches: Flipkart’s journey from Rs 4,00,000 to $5-6 billion

In the biggest fund-raising ever for an Indian e-commerce company, Flipkart recently attracted a whopping $1 billion from its existing investors Tiger Global Management and Naspers.

As per industry experts, the Bangalore-based company is now valued at somewhere between $5 and $6 billion — double the estimated value of $2.5-3 billion in May this year.

Flipkart co-founders Sachin Bansal and Binny Bansal want to make Flipkart the country’s first Internet company to be valued at $100 billion.

Flipkart has till now garnered almost $1.7 billion as it battles Amazon and Snapdeal for the top slot.

READ ALSO: Flipkart’s Bansals nearly as rich as Infosys co-founders

Here, we present a timeline of Flipkart’s funding — how the seven-year-old company that founders started off with just Rs 400,000 — is now worth thousands of crores.

October 14, 2008: Co-founders Sachin Bansal and Binny Bansal start Flipkart with a capital of Rs 400,000

July 15, 2010: Tiger Global joins with an investment of $10 million

June 16, 2011: The company announces new logo and gets another investment of $20 million by Tiger Global

August 24, 2012: Investment of $150 million by Tiger Global and Naspers group, crosses gross sales of Rs 100 crore

39341438.cms

July 10, 2013: Attracts investment of $200 million from Tiger Global, Naspers, Accel Partners and Iconiq Capital, crosses single-day shipment of 1.3 lakh

October 9, 2013: Another investment of $160 million by Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, Vulcan Capital and Tiger Global

May 26, 2014: Flipkart acquires Myntra

July 29, 2014: Attracted a whopping $1 billion from Tiger Global Management and Naspers

READ ALSO: Flipkart eyes 1.5 million sq ft office space

Just a day after Flipkart announced raising $1 billion, e-commerce giant Amazon, too, announced that it will invest an additional $2 billion in India to expand its growth in the country.

Advertisements

About Ganesh Srinivasan Consulting

Management Consultant from India with International Solutions Selling, Projects Implementation, Joint Venture, Collaboration and Procurement experience Building a Global Team of Consultants and Niche Products and Services

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: