South African media company Naspers invested 2.67 billion Rand (around $242.3 million at current rates) in Flipkart in August 2014, in a round where the Indian e-commerce major raised a massive $1 billion investment. This takes Naspers’ total investment in Flipkart to 5.46 billion Rand (around $495.5 million at current rates), and its stake in Flipkart is at 16.6% on a fully diluted basis (post multiple rounds of investment). At the time, Flipkart had mentioned that the round was co-led by existing investors Tiger Global & Naspers with participation from new investor Singapore government’s sovereign wealth fund GIC and existing investors DST Global & Accel Partners. The company has raised $1.75 billion investment until now and is reportedly in talks to raise $500 million-$600 million more. Naspers made its first investment in Flipkart in August 2012, where it invested 858 million Rand investment for a 10% stake, and followed it up with a 1376 million Rand investment in July 2013 and 555 million Rand investment in May 2014. (Note that Naspers had earlier mentioned that it had invested 543 million Rand in Flipkart in May 2014 and now says that it had invested 555 million Rand during that round). Meanwhile, Naspers owned Tradus had pivoted to become an online grocery-only store in August this year. Tradus CEO Mudit Khosla had also left the company a month later. Ibibo group CEO Ashish Kashyap had told Medianama that he is “looking at various opportunities around the Tradus platform” adding that the business is getting “good traction on local”, and “you…
