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Naspers invested $51M In Flipkart in May 2014; now owns 17.7%

naspersSouth African media company Naspers invested 543 million Rand (around $51M in Flipkart) in May 2014, in a round where the Indian e-commerce major raised $210 million in funding. This takes Naspers’ total investment in Flipkart to 2,777 million Rand (around $261 million at current rates), and on a fully diluted basis (post multiple rounds of investment, their stake in Flipkart is 17.7%.

Naspers made its first investment in Flipkart in August 2012, where it invested 858 million Rand ($80.65 million) investment for a 10% stake, and followed it up in July 2013 with a 1376 million Rand ($129.34 million) investment.


Note that the amounts quoted in USD in our previous stories are different, because the rate of currency conversion was different then.

Flipkart had raised around $210 million in May, from DST Global and existing investors Tiger Global, Naspers, and Iconiq Capital, shortly after acquiring online fashion store Myntra for an undisclosed amount. The company had mentioned that it intends to invest upward of $100 million in Myntra. It had also raised  having raised a significant round in October last year.

Flipkart’s fund-raising till date

– May 2014: $210 million from DST Global, Tiger Global, Naspers and ICONIQ Capital.
– October 2013
: Raised $160 million investment from Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital and existing investor Tiger Global
– July 2013$200 million from Naspers, Accel Partners, Tiger Global, and ICONIQ Capital.
– August 2012$150 million from Naspers and Tiger Global.
– June 2011$20 million from Tiger Global.
– June 2010: Up to $10 million from Tiger Global.
– 2009: $1 million from Accel Partners.

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Overall, the company has raised around $751 million until now, probably the highest for an Internet company in India.

Also read:
Reliance Retail plans to launch e-commerce stores

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