Flipkart booms to $12.5bn valuation after Helion, IDG stake sale

With a value of $12.5 billion (Rs. 77,000 crore), the e-commerce giant Flipkart has stunned the market with its latest move. This happened when two of the biggest investment firms Helion Venture Partners and IDG Ventures India sold stakes in Flipkart rece
Flipkart booms to $12.5bn

With a value of $12.5 billion (Rs. 77,000 crore), the e-commerce giant Flipkart has stunned the market with its latest move. This happened when two of the biggest investment firms Helion Venture Partners and IDG Ventures India sold stakes in Flipkart recently.

IDG Ventures, which synced with Flipkart through Myntra (a fashion portal), has dissolved a portion of its holding worth Rs. 940 crore. Currenlty IDG holds about 0.9 percent stakes in Flipkart whereas Helion Venture Partners that had stakes in Bangluru based online retailer Lets Buy has completely been acquired by Flipkart. It was valued nearly Rs. 156 crore.

With a plan to raise upto $800 mn in fresh capitals, the Flipkart is likely to be crowned as India’s biggest online retailer at potential value close to $15 billion.

Founded by former Amazon Inc. executives Sachin Bansal and Binny Bansal in 2007, Flipkart is all set to gain a greater share of India’s retail e-commerce space that is estimated to grow 70% to $6 billion by the end of 2015. According to industry experts, throughout this latest round of stake sales, Flipkart have raised close to $2.5 billion since last May alone.

Currently Flipkart is being backed by more than 15 institutional investors, venture capital firms and hedge funds. Tiger Global holds majority stakes in the company followed by Accel Partners which owns about 20%.

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