In May 2014, Flipkart received$210 million from DST Global, in July 2014 it raised$1 billion led by existing investors Tiger Global and South Africa’s media group Naspers and in May 2015 it raised$550 million from some of its existing investors. Flipkart’s last fundraising round in May 2015 had pegged its valuation at$15 billion.[10]In February 2016, Morgan Stanley, marked down its investment value to$11 billion.[11]
History
Sachin Bansal co-founder of Flipkart
Old logo of Flipkart( 2007-2015)
Flipkart( Company) was founded in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for Amazon.com, and left to create their new company incorporated in October 2007 as Flipkart Online Services Pvt. Ltd.[12] The first product they sold was the book Leaving Microsoft To Change The World to a customer from Hyderabad.[13][14][15] Flipkart now employs more than 33, 000 people.[16] Flipkart allows payment methods such as cash on delivery, credit or debit card transactions, net banking, e-gift voucher and card swipe on delivery.[17