Rise of India in World E-Commerce Market
In March 2010, first time I come to familiar about this e-website, and frankly says the very first time I hear about any E-Commerce website and shocked about such a high jump in E market, everything is just available on a single click with an option available with various mode of payment including Cash on Delivery (Amazing was first expression i feel about). today there is an queue of E-commerce website from where we can compare the prices, qualities, delivery time, return policies and many more and purchase the stuffs from the web which suits more.
Flipkart is founded by two former IIT Delhi student (Sachin and Binny Bansal) in year 2007, They worked for Amazon.com before quitting and founding their own company. On very initial level they only focused to sell of Books, after founding their own organization they both struggled a lot to sell their first book of John Woods "Leaving Microsoft to change the World". today Flip is counted among the top 20 websites of India including largest on line store of books. the company was initially funded by both the Co-founder with an asset of four lac rupees which is now generating a revenue of around five billion rupees. today many investors are interested to for investment in this e-commerce website on global label. with an eye over global market, flipkart's future plans are not entirely dependent on overseas Initial Public Offering (IPO), they are following entry of strategic investor like Nasper.
FlipKart
- One of the Indian market leading E-Commerce website Flipkart seems
with very high hopes in near future, where the online store is now
dreaming to be the global market leader in E-Commerce industry. Flipkart
has been high on its revenue figures and also the magical target of $1
billion (about Rs 5,500 crore) in sales by 2015. From Rs 11.6 crore in
2009-10, its revenue jumped to about Rs50
crore in 2010-11. The company closed 2011-12 with a revenue of over Rs
500 crore. It has a registered user base of over two million customers
and ships out 30,000 items a day, clocking daily sales of an estimated
Rs 2.5 crore.
Flipkart is believed to have raised $150 million (Rs 825 crore at current forex value) from its existing investors Accel Partners and Tiger Global Management in the fourth round of funding recently. With that infusion, Flipkart was valued around $850 million (Rs 4,675 crore), industry estimates suggested. The company had earlier raised $31 million (Rs 170.5 crore) overall in the earlier three rounds over a couple of years. The $850-million valuation is much less than the $1 billion talked about when private equity investors like General Atlantic were holding talks with the company.
The relationship between online retail players and venture capital funds has been rather curious of late. In this case, when Flipkart acquired Letsbuy.com, an online retailer specializing in electronics, both the sites had common investors -- Accel Partners and Tiger Global Management. The struggling Letsbuy.com has now shut shop and its traffic has been diverted to Flipkart. As a strategy, the company has diversified beyond books, and claims it wants to be the biggest retailer of India (not just online). Other than groceries and automobiles, it’s looking to enter all categories -- it is already present in 12, including books, music, mobiles, computers, cameras, home & kitchen appliances, TV & home theatre systems. It has also entered the digital content market with the recent launch of Flyte (digital music store)
South African media giant Nasper is leading $150-million investment in online retailer Flipkart, a deal which is said to secure the company's finances for next three years.
Iconiq Capital, one of Silicon Valley's hottest wealth managers with the likes of Mark Zuckerberg as clients, will be another new investor, while existing shareholders Tiger Global and Accel Partners make follow-on investments in the latest round of fund raise.
FLIPKART TEAM - All the best for your future ventures, Keep the Spirit always high and move with more pace..... :-)
Flipkart is believed to have raised $150 million (Rs 825 crore at current forex value) from its existing investors Accel Partners and Tiger Global Management in the fourth round of funding recently. With that infusion, Flipkart was valued around $850 million (Rs 4,675 crore), industry estimates suggested. The company had earlier raised $31 million (Rs 170.5 crore) overall in the earlier three rounds over a couple of years. The $850-million valuation is much less than the $1 billion talked about when private equity investors like General Atlantic were holding talks with the company.
The relationship between online retail players and venture capital funds has been rather curious of late. In this case, when Flipkart acquired Letsbuy.com, an online retailer specializing in electronics, both the sites had common investors -- Accel Partners and Tiger Global Management. The struggling Letsbuy.com has now shut shop and its traffic has been diverted to Flipkart. As a strategy, the company has diversified beyond books, and claims it wants to be the biggest retailer of India (not just online). Other than groceries and automobiles, it’s looking to enter all categories -- it is already present in 12, including books, music, mobiles, computers, cameras, home & kitchen appliances, TV & home theatre systems. It has also entered the digital content market with the recent launch of Flyte (digital music store)
South African media giant Nasper is leading $150-million investment in online retailer Flipkart, a deal which is said to secure the company's finances for next three years.
Iconiq Capital, one of Silicon Valley's hottest wealth managers with the likes of Mark Zuckerberg as clients, will be another new investor, while existing shareholders Tiger Global and Accel Partners make follow-on investments in the latest round of fund raise.
FLIPKART TEAM - All the best for your future ventures, Keep the Spirit always high and move with more pace..... :-)
Regards
Dhitendra
Keep Smiling :-)
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