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2012-08-25

Flipkart raises $150m in funding

The cash strapped online retailer Flipkart finally has something to be happy about as it has received enough amount of funding for the next three years. Naspers, the popular investor along with Accel Partners, Iconiq Capital and Tiger Global have togethe

The cash strapped online retailer Flipkart finally has something to be happy about as it has received enough amount of funding for the next three years.  Naspers, the popular investor along with Accel Partners, Iconiq Capital and Tiger Global have together pooled in $150 million to provide financial stability to Flipkart.

Flipkart, in its aspiration to build a strong logistics network, faced a lot of flak and difficulty along with maintaining company’s brand value in the recent past. But now, the sales revenue of current fiscal year is Rs 2,000 crore with desired target revenue of Rs 5,000 crore by 2015, which might keep the investors pleased.

This fresh round of investment will also ease out the roadblocks for Flipkart, and will also help in creating a rich product portfolio with a reliable human resource team to help make the future secure.

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