{"id":58737,"date":"2014-05-26T11:29:13","date_gmt":"2014-05-26T09:29:13","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=58737"},"modified":"2014-05-26T11:29:13","modified_gmt":"2014-05-26T09:29:13","slug":"naspers-injects-further-cash-into-flipkart","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/58737\/naspers-injects-further-cash-into-flipkart\/","title":{"rendered":"Naspers injects further cash into Flipkart"},"content":{"rendered":"

Flipkart, India’s largest e-tailer, raised $210 million in a fresh round of funding from a group of four investors led by internet-focused investment group DST Global, it said in a statement on Monday.<\/p>\n

Flipkart\u2019s existing investors, Tiger Global, Naspers, and Iconiq Capital also participated in the financing round, the company said.<\/p>\n

Last week, Flipkart, which is popular for selling books and electronics online, acquired the country’s biggest fashion portal Myntra for around $300 million.<\/p>\n

Indian e-commerce companies are expanding and raising capital after Amazon<\/span>, which entered India last June, has drawn up the battle lines by slashing prices and launching next-day delivery.<\/p>\n

Set up by two ex-Amazon employees in 2007, Flipkart has raised between $540-$560 million, according to industry estimates which valued the company at about $1.6 billion at the end of 2013.<\/p>\n

In July 2013, Naspers acquired an additional 8.6% interest in Flipkart for R1.4 billion in cash, boosting its overall interest in Flipkart to 16.7% on a fully diluted basis.<\/p>\n

More on Naspers<\/h3>\n

Naspers bets on India<\/strong><\/a><\/p>\n

Naspers linked to Indian e-commerce investment<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Flipkart, India’s largest e-tailer, raised $210 million in a fresh round of funding from a group of four investors including Naspers.<\/p>\n","protected":false},"author":7,"featured_media":40654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882,21],"tags":[25,657,7073,6287,8021,107,4535],"class_list":["post-58737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","category-telecommunications","tag-active","tag-amazon","tag-flipkart","tag-iconiq-capital","tag-myntra","tag-naspers","tag-tiger-global"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/58737","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=58737"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/58737\/revisions"}],"predecessor-version":[{"id":58741,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/58737\/revisions\/58741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/40654"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=58737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=58737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=58737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}