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Flipkart ends fundraising round with valuation at USD 15 bln
2015-09-25 09:01:00| Telecompaper Headlines
(Telecompaper) Indian e-commerce company Flipkart has closed its latest fundraising round, with valuation now at USD 15 billion, the Financial Times reported. The company, found by two former Amazon employees, said it recently raised USD 700 million from new and existing investors. Earlier this week, the company announced it had hired Dan Rawson, the former head of fulfilment for Amazon in North America, to manage its logistics and supply chain. Flipkart says it has around 50 million individual customers. In its bid to reach more, the company will put focus now on smaller towns and run vernacular language advertisements, using local celebrities.
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Category:Telecommunications