The homegrown e-commerce Company, Flipkart has taken over all the attention in the e-commerce market by becoming the third most funded private company in the world. Abroad based telecom giant, SoftBank has recently funded ₹15000 Crore ($2.4 billion) and this has pumped the Flipkart to hold new position. Bansal’s e-commerce company reaffirms the faith of global companies like SoftBank, Tiger Global, eBay and Microsoft in Indian companies.
Nitin Sharma, principal and founding member at early-stage Venture Capital fund Lightbox told ET that “Since Flipkart has been the flag-bearer for the local ecosystem, this reinforces the positive belief around the long-term India opportunity”. He further added that “eventually it needs to show a large-value creation event and seeing SoftBank, Tencent and others go long should allay some of the concerns that had been dampening the sentiment locally and giving global investors some pause”.
Apart from this, till date, Flipkart has raised almost ₹44000 Crore ($7 Billion) in its total capital. This figure is much higher than Airbnb (₹21000 Crore, $3.3 Billion) and Xiaomi (₹8000 Crore, $1.4 Billion).