Flipkart raises $ 700 million new investment
India’s largest online speaker, Flipkart has revealed about a US $700 million investment with new investors such as Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates and Qatar Investment Authority, along with the existing investors DST Global, GIC, ICONIQ Capital and Tiger Global, who also participated in this latest financing round.
These newly raise funds will be used for achieving long term strategic investments in the country. Moreover, the company will also build world class technologies in order to deliver superior experience to the customers.
Flipkart Limited (incorporated at Singapore) has also filed with ACRA Singapore for conversion to a Public Company. This is a compulsory procedure for all companies where the number of shareholders exceeds 50. This filing confirms we are in agreement with the laws of Singapore and is in no way indicative of any upcoming IPO or of any corporate activity that the company is engaged in either in Singapore or any other part of the world.
