South African media conglomerate Naspers had invested 858 million rand (around $84.86 $102.1 million) in the e-commerce major Flipkart in return for 10% stake in the company in August 2012, the company has revealed (pdf) in its earnings results for the year ending March 31, 2013. This brings the valuation of the company to around $848.6 million, which ties in with the $850 million valuation reported by Livemint last January 2012 and down from the reported $1 billion valuation of the company. This brings the company valuation to around $1.02 billion. In August 2012, Flipkart was said to have raised $150 million from Naspers, ICONIQ Capital and existing investor Tiger Global. Naspers had confirmed the investment to Medianama, however, it had refused to disclose the amount invested in Flipkart, citing confidential contractual terms. Flipkart has also confirmed this funding to Medianama and has said that it intends to utilize the funding to expand supply…
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