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Flipkart’s Biggest Investor Tiger Global Raises Stake In Rival Amazon

Flipkart’s Biggest Investor Tiger Global Raises Stake In Rival Amazon

Flipkart‘s largest shareholder Tiger Global Management has significantly increased its stake in the US listed e-tailer and rival Amazon. According to a Business Insider report, citing data from the US Securities and Exchange Commission, Tiger Global recently bought 2.44 Mn shares of Amazon Inc, taking its total holding in the $90 Bn US ecommerce giant to more than 3.19 Mn shares as of the September quarter.

The report stated that Tiger Global’s stake in Amazon, which happens to be its second largest US stock holding, was valued at $1.64 Bn at the end of September and almost $2.1 Bn at current share price. The investment firm has invested in Amazon through its public equity (hedge fund) business.

Meanwhile, through its private equity business, it holds 28% stake in India’s ecommerce giant Flipkart. The firm has participated in every fund-raising round of Flipkart’s, pumping in over $1 Bn till date. In its last funding round in July, Flipkart raised $700 Mn from its existing investors which valued it at $15 Bn. The ecommerce giant has about $2.6 Bn in the last 24 months, and over $3.2 Bn since inception.

Interestingly, Tiger’s increased investment in Amazon also comes at a time when the US based ecommerce powerhouse is betting big on the Indian market, closing the gap with Flipkart in India. This year, it has readied a $5 Bn war chest for India as it tries to garner a much larger share of the ecommerce pie. The e-tailer also made heavy investments in the Indian market during Diwali, infusing $190 Mn into its Indian flagship firm Amazon Seller Services. It has announced its intentions to continue investing in the Indian market, owing to its strong sales numbers and for expanding its seller base in the country.

Amazon’s business in the country is worth at least $2 Bn in GMV on the ecommerce side.  It now boasts of 20 fulfilment centres operating across 10 states in India, is adding 40,000 products a day, and has seen its number of sellers have grown more than 250% year-on-year basis.

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Shweta Modgil

Inc42 Staff

Passion for writing and interest in the start-up space brings Shweta to Inc.42. She has prior experience as a Research Analyst in the venture capital/ private equity space and the auto industry. Fiction writing is her other forte and her first book titled One Hundred Days published by Tara Press debuted in 2014.
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