Flipkart, Now Third Most Eunded Private Company Globally.

“With the $2.4 billion it just received from Japanese technology and telecom giant
SoftBank, Flipkart has
become the third most funded private
company globally. The
homegrown e-
commerce company
has to date raised
almost $7 billion in
capital, higher than
that raised by global
behemoths like online
house rental
aggregator Airbnb
($3.3 billion) and
mobile phone maker
Xiaomi ($1.4 billion).
The top two are both
ride hailing platforms
— Chinabased
Didi Chuxing and
USbased Uber.
In April, Didi Chuxing
raised $5 billion and
increased its total fund raise to $15 billion, overtaking Uber that has raised $12.9 billion.

In the top 10, four are
ride-hailing platforms,
the other two being
Silicon Valley-based
Lyft and India’s Ola.
Flipkart is the only e-
commerce company in
the top 10. The Flipkart funding reaffirms the
faith of global players
like SoftBank, Tiger
Global, eBay, and
Microsoft in Indian
companies. “Since Flipkart has been the flag-bearer for the local ecosystem,
this reinforces the
positive belief around
the long-term India
opportunity,” said Nitin Sharma, principal and founding member at
early-stage VC fund
Lightbox. The VC
ecosystem, he said,
eventually needs to
show a large-value
creation event, and
seeing SoftBank,

Tencent and others go
long should allay some of the concerns that had been dampening
the sentiment locally
and giving global
investors some pause.
He said e-commerce in India consumes a lot of capital. “With macro income growth and scale, unit economics
will become attractive
over five-10 years,” he said…”

MORE at:

http://timesofindia.com/business/india-business/flipkart-worlds-3rd-most-funded-pvt-co/articleshow/60028732.cms

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