Rags To Riches: Flipkart’s Journey From Rs 400,000 To $5-$6 Billion Firm
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In the biggest fund-raising ever for an Indian e-commerce company, 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
Flipkart has till now garnered almost $1.7 billion as it battles
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.
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Timeline
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
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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
July 29, 2014 – Attracted a whopping $1 billion from Tiger Global Management and Naspers
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Just a day after Flipkart announced raising $1 billion, e-commerce giant Amazon, too, announced to invest an additional $2 billion in India to expand its growth in the country.Advertisement
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