Latest Flipkart Raise May Include Tiger Global, Other Existing Investors

Mar 30 2015 | 1:43pm ET

Tiger Global is considering participation in a new round of financing for Indian online retailer Flipkart.

The new round will raise $600-$800 million in fresh capital for the retailer and will be led primarily by existing investors, which include Tiger Global Management and the Qatar Investment Authority, according to media reports.

Flipkart was founded in 2007 by former executives Sachin Bansal and Binny Bansal. The firm latest financing, $700 million in December 2014, was reportedly done at an $11.5 billion valuation. The new round could value the company at $14-$15 billion. 

The company, already India’s largest e-commerce platform, is seeking greater share of a market estimated to grow 70% this year and total upwards of $6 billion. An initial public offering is expected within the next 18 months, according to the reports.

Flipkart has raised nearly $2 billion in previous investment rounds and backed by more than 15 institutional investors, venture capital firms and hedge funds which, in addition to Tiger Global and Qatar, include Naspers, Accel Partners, Steadview Capital, DST Global and GIC.

Tiger Global was founded in 2001 by Charles Coleman and is known as one of the “tiger cubs”, a term referring to managers or hedge funds that were seeded by famed investor Julian Robertson of Tiger Management. 

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