Flipkart expanding !
Indian e-tailer, Flipkart. The most successful online retail shop has secured its finances for the next two years. South African companies Nasper and Iconic Capital are the new investors investing US$90 Million.
Nasper, South African media company committed to invest US$90 Million making Nasper the second largest share holder after Tiger Global (Which was former & current investor of Flipkart)
Even though, Flipkart is best E retail company in India, we saw it lacks service in many part of nation, Hence the Dollar bills will be used in expanding supply chain capacity & growing its talent pool.
"This round of funding would fuel our growth plans, and help us achieve our stated ambition of hitting US$1 Billion in gross merchandise value by 2015", said Flipkart's Co-founder & CEO Sachin Bansal.
This will even boost the job opportunities for IT Engineers in near future. Surely, talented Engineers will have no trouble in getting placement in Flipkart.
I would love to see Flipkart's HRs recruiting Engineers from all over Indian Engineering colleges.
Nasper, South African media company committed to invest US$90 Million making Nasper the second largest share holder after Tiger Global (Which was former & current investor of Flipkart)
Even though, Flipkart is best E retail company in India, we saw it lacks service in many part of nation, Hence the Dollar bills will be used in expanding supply chain capacity & growing its talent pool.
"This round of funding would fuel our growth plans, and help us achieve our stated ambition of hitting US$1 Billion in gross merchandise value by 2015", said Flipkart's Co-founder & CEO Sachin Bansal.
This will even boost the job opportunities for IT Engineers in near future. Surely, talented Engineers will have no trouble in getting placement in Flipkart.
I would love to see Flipkart's HRs recruiting Engineers from all over Indian Engineering colleges.
Replies
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Kaustubh KatdareOh dear old Flipkart! Though Flipkart is popular, they seem to be in perpetual need of external funding to keep the company alive. A few days ago, I heard that Flipkart only had about 8-9 months of cash left in the banks and unless external investors put some hard money in the company; Flipkart would have be in 'serious' trouble.
Then the recent blow comes from the mighty big Amazon - that launched their eBook store in the price sensitive Indian markets. Amazon is not only offering the eBooks at cheaper rate but being eBooks; they'll be delivered almost instantly to the buyer's gadget.
...and now this news! Flipkart needs to work out something on the pricing side. I noticed that they started selling the items at a bit higher price than the competition. Maybe that's just a move to bring more revenues to the company and keep the investors happen. But it'd be interesting to watch how long can they keep up the battle against the rivals.
Personally, I want to see Flipkart become a big success. I've ordered a few items from them and they've always pleased me with the quality of their service.
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