The eCommerce giants are pretty committed to keep the Indian eCommerce industry competitive and interesting. After the news from Amazon, where the global eCommerce biggie decided to pump in $5 Billion in the Indian market, Flipkart, today has announced the latest funding round at $15 Billion valuation.
In last one year, Flipkart has seen various funding rounds starting from new and existing investors. After the $1 Billion funding round in July last year, Flipkart went on to secure $700 million in December followed by a relatively small investment of $210 Million from DST Global earlier this year.
The latest funding round values Flipkart at over $15 Billion and it pretty much give strength to the announcement Flipkart did about hitting $10 Billion GMV in the running year. Flipkart is also planning to increase its catalog by launching more categories. Acquiring Myntra was one such move to strengthen the position in the Indian eCommerce industry.
Flipkart has been thinking about some bold decisions lately. The company announced to go App only from September after claiming that over 75% of the 8 Million daily visits come from mobile devices.
This will be interesting to see on how the other competitors see this announcement, because both Amazon and Snapdeal are pretty much neck to neck in the competition after Snapdeal securing a $627 Million funding recently.