Flipkart $1 Billion Funding From Tiger Global, DST Global, Accel & Others
Flipkart will announce $1 billion in fresh funding from its old investors - Tiger Global, DST Global, Accel Partners and others; making it the biggest round of funding EVER by any Indian company. The news is expected to be officially announced by Flipkart sometime today. This round of funding pushes Flipkart's market valuation to over $5 billion and the company will officially become higher valued than any retail chain in India.
It also tells us that Flipkart is no longer Sachin and Binny Bansal's company; and I doubt how many tiny percentages they must be dealing with now. Of course - even if the guys hold just 5% of the company - the duo would still have $250 million; quite a lot if they want to spend the rest of their lives doing nothing!
The rumours are speculating the possible Flipkart IPO next year, which is why all the investors are pouring in money in the company. I seriously don't know why'd people invest their money in a company that doesn't know how to be profitable yet. The CxO team at Flipkart maintains that they can become profitable at any time if they want to; but that's not their current aim.
Flipkart's announced several new verticals in the recent times and expanding their portfolio. No wonder Flipkart's tryin to be the Amazon of India and sell everything - from Grocery to Two-Wheelers and cars.
I wonder how will Flipkart spend all the money! Let's expect more TV and Web Ads and maybe a lot more discounts on the products. If that's the way Flipkart wants to take - it's a fantastic news for us, the buyers. Expect the prices of stuff fall in the coming days!
Let's wait for the official news.
It also tells us that Flipkart is no longer Sachin and Binny Bansal's company; and I doubt how many tiny percentages they must be dealing with now. Of course - even if the guys hold just 5% of the company - the duo would still have $250 million; quite a lot if they want to spend the rest of their lives doing nothing!
The rumours are speculating the possible Flipkart IPO next year, which is why all the investors are pouring in money in the company. I seriously don't know why'd people invest their money in a company that doesn't know how to be profitable yet. The CxO team at Flipkart maintains that they can become profitable at any time if they want to; but that's not their current aim.
Flipkart's announced several new verticals in the recent times and expanding their portfolio. No wonder Flipkart's tryin to be the Amazon of India and sell everything - from Grocery to Two-Wheelers and cars.
I wonder how will Flipkart spend all the money! Let's expect more TV and Web Ads and maybe a lot more discounts on the products. If that's the way Flipkart wants to take - it's a fantastic news for us, the buyers. Expect the prices of stuff fall in the coming days!
Let's wait for the official news.
Replies
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Kaustubh KatdareSo the news is now official! It turns out that the founders are now left with a single digit stake in the company but are okay with it. No doubt it's an incredible achievement by two engineer duo who quit their jobs at Amazon to follow their passion!
What do our fellow engineers think?
You are reading an archived discussion.
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