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Posts Tagged ‘Flipkart’

MUMBAI, India (AP) — India’s largest online e-commerce company, Flipkart, raised $1 billion in new capital this week as the company gears up for competition with Amazon’s push into the Indian market.

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Indias top e-commerce company Flipkart said Tuesday it had raised $1 billion (60 billion rupees) in funds as it battles US giant Amazon for supremacy in the hyper-competitive local market. Flipkart, set up in 2007 by two former Amazon employees, said Singapore sovereign wealth fund GIC was among those to participate in the fundraising, the […]

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