Flipkart Receives $200 Million Investment From Its Parent Company

0
Latest startup news

The wholesale arm of the Walmart-owned Flipkart — Flipkart India Private Ltd — has received an investment of $200.8 million (₹ 1,431 crore) from its Singapore-based parent entity, Flipkart Private Limited.

Earlier, Flipkart had received ₹ 2,190 crore ($307.5 million) from its parent entity. In September last year, the entity had invested ₹3,463 crore ($486 million), and ₹ 4,472 crore ($686 million) in March, in its India arm.

The recent investment to Flipkart comes a month after the India government issued a notification that mandates ecommerce companies to refrain from exercising ownership or control over the seller’s inventory.

Flipkart, along with its main rival Amazon, usually purchases goods in bulk from manufacturers and sells them to online vendors registered to their platform. The new policy restricts online marketplaces from procuring over 25% of the inventory from a single vendor in which they own a stake.

Web Hosting

LEAVE A REPLY

Please enter your comment!
Please enter your name here