{"id":46944,"date":"2013-10-01T14:43:46","date_gmt":"2013-10-01T12:43:46","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=46944"},"modified":"2013-10-01T14:46:53","modified_gmt":"2013-10-01T12:46:53","slug":"naspers-linked-to-indian-e-commerce-investment","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/46944\/naspers-linked-to-indian-e-commerce-investment\/","title":{"rendered":"Naspers linked to Indian e-commerce investment"},"content":{"rendered":"<p>Indian e-commerce company\u00a0<a title=\"Flipkart.com\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/9253-Flipkart\">Flipkart.com<\/a>,\u00a0is believed to be looking for\u00a0$125 million in a fresh round of funding from existing, and new investors, including SA media and Internet firm Naspers.<\/p>\n<p>According to\u00a0<a title=\"http:\/\/www.livemint.com\/Companies\/PSY7QdLg0b2W308h6w86sI\/Flipkart-in-talks-to-raise-125-mn-from-existing-new-invest.html\" href=\"http:\/\/www.livemint.com\/Companies\/PSY7QdLg0b2W308h6w86sI\/Flipkart-in-talks-to-raise-125-mn-from-existing-new-invest.html\" target=\"_blank\">livemint.com<\/a>,\u00a0Flipkart is talking to existing investors: Tiger Global Management, Accel Partners, Iconiq Capital, and Naspers subsidiary,\u00a0MIH, along with\u00a0at least two other US-based investors for the latest round.<\/p>\n<p>Flipkart\u00a0raised $200 million from the four mentioned\u00a0existing\u00a0investors in July.<\/p>\n<p>Naspers said in its report for the year ended March 2013, that it acquired a 10% interest in Flipkart for R858 million in cash in\u00a0August 2012, following the completion of a 4th round of $150 million funding from MIH \u2013 part of Naspers Group \u2013 and\u00a0<a title=\"Iconiq Capital\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/9254-Iconiq-Capital\">Iconiq Capital<\/a>.<\/p>\n<p>Naspers says that Bangalore-based Flipkart.com is the biggest e-commerce destination in India.<\/p>\n<p>With in excess of two million registered users in 2012, Flipkart\u00a0claims to\u00a0sell nearly 20 products per minute and is aiming at generating a revenue\u00a0of Rs50 billion\u00a0(US$1 billion) by 2014.<\/p>\n<p>Citing sources close to the deal, livemint.com said the latest investment is being sought by Flipkart Holdings Singapore, the Singapore-based entity created in February this year by the company\u2019s founders to get around the Indian law that doesn\u2019t allow foreign direct investment in e-commerce companies.<\/p>\n<h3 class=\"my-4\">More news on Naspers<\/h3>\n<p><a title=\"Naspers raising $750m for acquisitions\" href=\"http:\/\/businesstech.co.za\/news\/general\/41913\/naspers-raising-750m-for-acquisitions\/\" target=\"_blank\"><strong>Naspers raising $750m for acquisitions<\/strong><\/a><\/p>\n<p><a title=\"Naspers takes bigger bite into India\" href=\"http:\/\/businesstech.co.za\/news\/internet\/41754\/naspers-takes-bigger-bite-into-india\/\"><strong>Naspers takes bigger bite into India<\/strong><\/a><\/p>\n<p><strong><a title=\"Naspers targets mobile\" href=\"http:\/\/businesstech.co.za\/news\/internet\/40707\/naspers-targets-mobile\/\">Naspers targets mobile<\/a><\/strong><\/p>\n<p><strong><a title=\"Naspers revenue tops R50 billion\" href=\"http:\/\/businesstech.co.za\/news\/general\/40574\/naspers-revenue-tops-r50-billion\/\">Naspers revenue tops R50 billion<\/a><\/strong><\/p>\n<p><a title=\"Naspers to buy India\u2019s RedBus for R1.4bn: report\" href=\"http:\/\/businesstech.co.za\/news\/internet\/40236\/naspers-to-buy-indias-redbus-for-r1-4bn-report\/\"><strong>Naspers to buy India\u2019s RedBus for R1.4bn: report<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian e-commerce company Flipkart, is believed to be looking for $125 million in a fresh round of funding from existing, and new investors, including Naspers.<\/p>\n","protected":false},"author":10,"featured_media":6008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[2794,25,6287,109,107,4534],"class_list":["post-46944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-accel-partners","tag-active","tag-iconiq-capital","tag-mih","tag-naspers","tag-tiger-global-management"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/46944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=46944"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/46944\/revisions"}],"predecessor-version":[{"id":46951,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/46944\/revisions\/46951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/6008"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=46944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=46944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=46944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}