Flipkart completes 4th round of fund-raising

CNBC-TV18 reports that online shopping portal Flipkart has announced the completion of the fourth round of fund-raising.

August 25, 2012 / 11:38 IST

Online shopping portal Flipkart has announced the completion of the fourth round of fund-raising, reports CNBC-TV18. However, the amount has not been disclosed.

The funds have been raised from MIH which is part of the Naspers group and Iconiq Capital. Both these firms will now get a minority stake in Flipkart and MIH will be represented on the board of directors.

With this fund-raising exercise, the company hopes to reach a merchandise value of USD 1 billion dollars in the next three years.

first published: Aug 24, 2012 09:32 pm

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