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Flipkart Raises $8-10M In Funding From Tiger Global: Report

Flipkart, the online retail co which recently expanded its portfolio of products beyond books to include movies, music and games, had raised “up to $10 million” in funding from Tiger Global Managment a few months ago, reports VCCircle, quoting unnamed sources. MediaNama is yet to receive a response from Flipkart – apparently founders Sachin and Binny Bansal are currently in China; we’re also avaiting a response from Flipkart investors Accel Partners. Rediff had reported a few months ago that Tiger Global Management had shut its India operations. It has investments in Just Dial, the National Stock Exchange, Educomp, Future Group and T.I.M.E (coaching classes).

Flipkart has been on a hiring spree of late, and has expanded to around 200 employees; from their blog, posted May end:

In the old days, if a stranger walked into the office we’d assume he/she was a customer. If a stranger walks in today, we assume first that it’s an employee. Loads of hiring on and off campuses these past few months … welcome aboard, lads!

More on Flipkart in our story yesterday: Flipkart Expands Offerings To Include Music, Movies & Games

We’ll update once we hear from either Flipkart or Accel Partners.

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Related:
Online Books Retailer A1Books Faces Liquidation Challenge In The US
A1Books Converts Chapter 7 To Chapter 11; Restructuring

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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