Rus­sian Net Ty­coon Mil­ner, Oth­ers In­vest 1,200 cr in Flip­kart

The Economic Times - - Companies - OUR BUREAU

Flip­kart will re­ceive a new round of fund­ing led by Rus­sian in­ter­net ty­coon Yuri Mil­ner’s DST Global fund. The in­vest­ment as re­ported by ET on Mon­day comes close on the heels of the coun­try’s largest on­line re­tailer ac­quir­ing fash­ion por­tal Myn­tra. Flip­kart will re­ceive $210 mil­lion, or about .` 1,200 crore, in this deal that val­ues the com­pany at about $2.6 bil­lion. “We are very ex­cited about get­ting DST as an in­vestor,” said Sachin Bansal, co-founder of Flip­kart. “Yuri is a vi­sion­ary and has seen trends be­fore ev­ery­one else." Mil­ner, whose fund is among the largest in­sti­tu­tional in­vestors in Face­book, is not join­ing the Flip­kart board. Ex­ist­ing in­vestors Tiger Global, Naspers and Iconiq Cap­i­tal have also par­tic­i­pated in this round. Flip­kart’s other in­vestors in­clude Ac­cel Part­ners, Dragoneer In­vest­ment Group, Mor­gan Stan­ley In­vest­ment Man­age­ment, So­fina and Vul­can Cap­i­tal. The com­pany had raised $360 mil­lion (over .` 2,100 crore) last year in two rounds.

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