The investment in India's e-commerce sector, which is projected to grow seven-fold to $22 billion by 2018, adds to QIA's spree of acquisitions. QIA has investments in Tiffany, Barclays, Credit Suisse and a $1.2 billion stake in India's biggest mobile phone carrier Bharti Airtel.
A Flipkart spokesperson offered no comments at the time of going to press.
This is Flipkart's third fund-raise this calendar, taking the year's total mop-up to $2 billion. The domestic e-commerce leader, which is battling Amazon in an intense marketplace rivalry, has projected a $4-billion revenue run rate by March next year.
A Flipkart spokesperson offered no comments at the time of going to press.
This is Flipkart's third fund-raise this calendar, taking the year's total mop-up to $2 billion. The domestic e-commerce leader, which is battling Amazon in an intense marketplace rivalry, has projected a $4-billion revenue run rate by March next year.
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