E-Commerce giant Flipkart announced raising $1 billion from new and existing investors. The company has raised the largest round of funds ever to be raised by any e-commerce company in India. With the latest round of fund raising the company is currently valued at about $5 billion.
Company will build supply chain in villages and towns and acquire new talent. The latest fund-raising is all about building an ecosystem for e-commerce in India. Company will hire about 1,000 more engineers this year.
