Initially, they had spent 400, 000 only for making website to set up the business.[24] Flipkart has later raised funding from venture capital funds Accel India(US$1 million in 2009)[25][26][27] and Tiger Global(US$10 million in 2010 and US$20 million in June 2011).[28][29][30] On 24 August 2012, Flipkart announced the completion of its 4th round of$150 million funding from MIH(part of Naspers Group) and ICONIQ Capital.[31] The company announced, on 10 July 2013, that it has raised an additional$200 million from existing investors including Tiger Global, Naspers, Accel Partners and Iconiq Capital.[32]
Flipkart’s reported sales were? 40 million in FY 2008–2009, [33][34]? 200 million in FY 2009–2010[35] and? 750 million for FY 2010–2011.[36] In FY 2011–2012, Flipkart is set to cross the? 5 billion(US$100 million) mark as Internet usage in the country increases and people get accustomed to making purchases online.[37] Flipkart projects its sales to reach? 10 billion by year 2014. On average, Flipkart sells nearly 10 products per minute[38] and is aiming at generating a revenue of? 50 billion(US$0.81 billion) by 2015.[39]
On November 2012, Flipkart became one of the companies being probed for alleged violations of FDI regulations of the Foreign Exchange Management Act, 1999[40][41]
Flipkart reported a loss of? 281 crore for the FY 2012-13.[42] In July 2013, Flipkart raised USD 160 million from private equity investors.[43]
In October 2013, it was reported that Flipkart had raised an additional$160 million from new investors Dragoneer Investment Group, Morgan Stanley Wealth Management, Sofina SA and Vulcan Inc. with participation from existing investor Tiger Global.[44][45][46]
On 26 May 2014, Flipkart announced that it has raised$210 million from Yuri Milner’s DST Global and its existing investors Tiger Global, Naspers and Iconiq Capital.[47]
In early July 2014, it was also highly speculated that Flipkart was in negotiations to raise at least$500 million, for a likely listing in the US for 2016.[48]
On 29 July 2014, Flipkart announced that it raised$1 billion[49] from Tiger Global Management LLC, Accel Partners, and Morgan Stanley Investment Management and a new investor Singapore sovereign-wealth fund GIC.[50]
On 6 October 2014, Flipkart sold products worth INR 650Crore in 10 hours in a special one-day e