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Flipkart closes funding of Rs 4,500 cr

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VoicenData Bureau
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BENGALURU: E-commerce giant Flipkart has closed a funding of Rs 4,500 crore.

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According to reports, Tiger Global and Steadview Capital participated in the fund raising.

The valuation of the eight-year-old company now stands at $15 billion. It has so far raised $3.4 billion. The 8.5 percent stakes that Founders Sachin and Binny Bansal hold separately are now valued at $1 billion each.

Flipkart has been recruiting top talents which included appointment of ex- google employee Krishnendu Chaudhury as Head of Image Sciences. The top technology recruitments is said to be aligned with its strategic move to app-only which will be in September.

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(First Published in CIOL)

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