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Flipkart Current Valuation Reaches $15 Billion With $700 Million In Fresh Funding
The Bansals at Flipkart have raised a new round of funds, about $700 million from their existing investors. The fresh round of investing takes the current valuation of Flipkart to whooping $15 billion. Flipkart co-founders, who currently own about 8.5% in the company are now worth $1B. Flipkart has not officially commented on the development.
The fresh figures make Flipkart more valuable than most of the established brands in the market viz. Idea Cellular, Mahindra and Mahindra, Cipla, Dabur, Colgate etc. Of course you may think that that's huge money for any e-commerce company. But when you compare them with their top rival Amazon - the numbers don't look that large. Amazon had earlier infused about $2 billion in their India operations, and the top boss Bezos is already writing a fresh cheque worth $5 billion.
Amazon currently has 23.6 million unique visitors (May 2015 figures) compared to 23.5 million unique visitors of Flipkart and we'd guess that with Amazon putting their advertisements all over billboards, the count's going to go up for Amazon faster than Flipkart. It's not clear how Flipkart will use these funds.
All that said, do you think the e-commerce bubble in India is about to burst? The startups are seeing valuations that no one imagined. I've also been hearing that Flipkart, SnapDeal, Amazon are paying badass salary packages to MBAs and engineers from top colleges. Will it come to an abrupt end?
The fresh figures make Flipkart more valuable than most of the established brands in the market viz. Idea Cellular, Mahindra and Mahindra, Cipla, Dabur, Colgate etc. Of course you may think that that's huge money for any e-commerce company. But when you compare them with their top rival Amazon - the numbers don't look that large. Amazon had earlier infused about $2 billion in their India operations, and the top boss Bezos is already writing a fresh cheque worth $5 billion.
Amazon currently has 23.6 million unique visitors (May 2015 figures) compared to 23.5 million unique visitors of Flipkart and we'd guess that with Amazon putting their advertisements all over billboards, the count's going to go up for Amazon faster than Flipkart. It's not clear how Flipkart will use these funds.
All that said, do you think the e-commerce bubble in India is about to burst? The startups are seeing valuations that no one imagined. I've also been hearing that Flipkart, SnapDeal, Amazon are paying badass salary packages to MBAs and engineers from top colleges. Will it come to an abrupt end?