Flipkart, the Amazon of India, just raised another $3.6 billion; now worth $37.6 billion.

Flipkart is mainly owned by US's Walmart.


Carl Adrian

13 Jul, 2021

Flipkart, the Amazon of India, just raised another $3.6 billion; now worth $37.6 billion. | BEAMSTART News

- From our Sponsors -

Flipkart, one of the most popular e-commerce platforms in India, has just raised another $3.6 billion led by GIC.

The new funding round brings Filpkart's valuation to $37.6 billion.

Key Highlights

  • Flipkart's new funding round comes as the company gears up to go public later this year.
  • Investors for the round include GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2, and Walmart.
  • Walmart presently holds a majority stake in Flipkart, where the US giant bought a 77% stake back in 2018 for $16 billion.

Why It Matters

  • Flipkart aims to utilize the new capital to further dominate their presence in the Indian market, expanding further into grocery, fashion, and last-mile deliveries.
  • The emergence of the global pandemic and India's rapid smartphone penetration has propelled many new startups to cater on-demand services to the population — potentially creeping into Flipkart's market.
  • Flipkart is aiming to go public via SPAC at a $50 billion valuation in the United States later this year.

- From our Sponsors -

Latest Jobs

UX designer

CloudEagle.ai

Palo Alto, United States

Full Time

Salary Undisclosed

Partnerships Lead

R2

Mexico City, Mexico, United States

Full Time

Salary Undisclosed

Operations Coordinator

hotglue

Washington, DC, United States

Full Time

Salary Undisclosed

Data & Finance Operations Associate

Paragon One

New York, United States

Full Time

Salary Undisclosed

Product Intern

Flagright

Berlin, Germany, United States

Internship

USD 1620 yearly

Founding Engineer

Anakin

New York, United States

Full Time

Salary Undisclosed

Fullstack JS Engineer

Zorba

Tel Aviv-Yafo, Israel, United States

Full Time

Salary Undisclosed

Senior Full Stack Engineer

Genei

London, United Kingdom, United States

Full Time

USD 80 — USD 100 yearly

Account Executive (Sales Head)

Scispot

Kitchener, Canada, United States

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).