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Valic a US-based mutual fund company valued Flipkart at 7.9 Billion Dollars in its quarterly filings. Which is way below from its last quarter valuation which was 11.6 Billion Dollars. The company has raised. In 2014, Flipkart was valued at $15 billion. It raised $1 billion from investors. After that Flipkart has been devalued several times by different investors in 2016. In January 2017, Flipkart was valued at $9.9 billion by T. Rowe Price.
Flipkart Year So far
This quarter’s valuation came as surprise to many as Flipkart has a pretty decent year so far. The company has raised more than 2 Billion Dollars so far this year. Flipkart has also acquired eBay India in April this year. Although Amazon emerged as consumer’s first choice this Diwali season still Flipkart put up a good fight.
After Kalyan Krishnamurthy took charge as CEO. Flipkart made many changes in its approach. Flipkart already has more than 65 percent market share in fashion, which is also the highest margin category. This year the company has also launched its private label brand named “Flipkart SmartBuy”. Flipkart has also relaunched its furniture and grocery categories.
Livemint has reported that Valic had valued Flipkart at around $8.5 billion in the previous quarter. “For the three months ended 31 August, Valic valued each Flipkart share at $88.11, down from $94.27 in the previous quarter,”.