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Homegrown, ecommerce biggie, Flipkart has closed its first funding for the year, which has valued the company at about $15 Bn. According to new report by ET, Flipkart has raised over $700 Mn from its existing investors including Steadview and others.

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Flipkart denied commenting on the development, however, according to the people close to the development, Sachin and Binny Bansal’s holdings of about 8.5% each is now worth more than $1 Bn.

This news comes in at the time, reports of Amazon readying a $5 Bn war chest had sufficed in media.

In December, last year, Flipkart had raised $700 Mn at a valuation of about $11 Bn, just 6 months after it raised $1 Bn.


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