Home Retail Flipkart Plans to Raise $500 mn from DST Global

    Flipkart Plans to Raise $500 mn from DST Global

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    E-commerce retailer is planning to raise $500 mn, almost Rs 3,000 crore, from Russian investment firm , according to a leading daily. The report mentions that apart from DST, other players like General Atlantic and Fidelity are also in talks with Flipkart.

    Flipkart looking to take decisive lead in Indian market; considers 2017 to be defining year
    Earlier this week, in a major restructuring, Flipkart brought all its units under an umbrella firm and elevated Binny Bansal as the Group Chief Executive Officer

    In the next 12-18 months, the Bangalore-based e-retailer also plans to invest over $100 mn for expanding its fashion category, says the report. Flipkart had raised over Rs 2,100 crore in two tranches last year at a valuation of over Rs 9,300 crore.

    Founded by , DST Global is famous for buying a 1.96 percent stake in Facebook in 2009 valued at $200 million.