After a week of complete silence, today Flipkart has finally confirmed that it has raised a $1 Bn funding round, the biggest funding round that any ecommerce company has ever raised. With this round, Flipkart is now valued between $5-6 Bn.
Since its launch in 2007, as an online book retailer and later pivoting to a marketplace model, today Flipkart has close to 22 Mn registered users and it handles about 5 Mn shipments a month. Going forward, Flipkart aims to become the mobile ecommerce company of the future.
Amazon’s entry might have created doubts in the minds of people on whether Flipkart would be able to fight against it in becoming the number one player in ecommerce in India. However the participation of existing investors and the addition of new investors in every round showcases the trust Flipkart has in minds of investors in terms of taking it forward.
Flipkart’s investors include Tiger Global, Accel Partners, Naspers, ICONIQ Capital, Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, Vulcan Capital, DST Global and Singapore’s sovereign wealth fund, GIC.
Here’s the complete timeline all the way from 2007’s launch to today’s $5 Billion valuation!