Flipkart is the world’s 3rd most funded private company
August 14th, 2017
With the $2.4 billion it just received from Japanese technology and telecom giant SoftBank, Flipkart has become the third most funded private company globally. The homegrown e-commerce company has to date raised almost $7 billion in capital, higher than that raised by global behemoths like online house rental aggregator Airbnb ($3.3 billion) and mobile phone maker Xiaomi ($1.4 billion). The top two are both ride hailing platforms – Chinabased Didi Chuxing and USbased Uber. In April, Didi Chuxing raised $5 billion and increased its total fund raise to $15 billion, overtaking Uber that has raised $12.9 billion. In the top 10, four are ride-hailing platforms, the other two being Silicon Valley-based Lyft and India’s Ola. Flipkart is the only e-commerce company in the top 10. The Flipkart funding reaffirms the faith of global players like SoftBank, Tiger Global, eBay, and Microsoft in Indian companies.