Oct 04, 2016 11:46 AM
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Funding
In 2009, it set up it raised its funding from venture capital funds Accel India. From Tiger Global, it raised 10 million US dollars in 2010 and 20 million US dollars in 2011. In August 2012, its fourth round of 150 million USD from MIH and ICONIQ capital was completed. It raised additional 200 million US dollars from Tiger Global, Naspers, Accel Partners and Iconiq Capital. In May 2014, it raised 210 million USD from DST Global, Tiger Global, Naspers and Iconiq Capital. It raised 3 billion USD by August 2015.
Products
It is one of the top e-commerce company in India giving tough ride to its biggest competitor- Snapdeal. It sells various products such as apparels, footwears, kids wear, fashion accessories, home décor, kitchen appliances, books, novels, sports items, electronic items etc. It has also launched its own product range- Digiflip- products include tablets, USBs and laptop bags.Its first Big billion sale in 2014 was not at successful but it compensated its loss in its second edition in 2015. This year, it generated business turnover of 300 million in gross merchandise volume.
Acquisitions and Investments
It acquired many companies in last few years. In 2010, it acquired WeRead followed by Mime360 next year. Chakpak.com was also acquired by Flipkart in 2011. An e-retailer in electronics naming Letsbuy.com is one of acquisitions of Flipkart. In 2014, it acquired Myntra.com for approximately 2000 crores. In order to strengthen its mobile platform, it acquired a mobile marketing startup Appiterate in 2015.
n February 2012, Flipkart launched its new Flyte Digital Music Store but it was closed in 2013 due to its paid service. In 2014, it launched its first networking router. Same year only, it also came up with its in-house home appliances and personal health care brand – Citron. It includes various cooking utilities and grooming products. Motorola Mobility, which was sold to Lenovo, in tie-up with Flipkart came up with a smartphone- Moto G and Moto X. In India, Xiaomi Mi3 was launched on an exclusive tie-up between Xiaomi tech and Flipkart.
