Flipkart Gets Record Funding: A Look at Other Milestones

Flipkart has announced raising of $1 billion (Rs. 6,000 crore at 1 dollar = 60 rupees) in fresh funding - the biggest ever by an Indian internet company in a single round.

With this funding, India's biggest e-commerce player is now expected to be valued at $5 billion, as per estimates.

Flipkart, India's biggest e-commerce player today, was set up by IITians Binny Bansal (left) and Sachin Bansal (right) in 2007 with an investment of Rs 4 lakh.

"India can produce a 100 billion dollar company in five years - we want to be that company," Flipkart co-founder Sachin Bansal said. (Photo credit: blog.flipkart.com)

"Acquisition will be an important part of our growth strategy," says Flipkart co-founder Binny Bansal.

The company has seen a turbo-charged growth, hitting an annualised sales mark of $1 billion (Rs. 6,000 crore) in 2014 - a year ahead of its target.

In May 2014, Flipkart acquired fashion portal Myntra and said it would invest $100 million (nearly Rs. 600 crore) in the fashion business. (Photo credit: blog.myntra.com)

Before May, Flipkart had raised between $540 million and $560 million, according to industry estimates, which valued the company at about $1.6 billion at the end of 2013.

In October 2013, the website announced the closure of a round of funding commenced in July 2013. The total funds raised in this round stood at $360 million.

In February, Flipkart and Motorola Mobility in an exclusive partnership announced the launch of smartphone Moto G in India. There was tremendous response from online shoppers to the launch with the 16GB version being sold out in first 15 minutes. (Photo: Posted on Facebook by Flipkart on February 6, 2014)