http://www.businesstimes.com.sg/pre...ests-india-e-commerce-giant-flipkart-20140730
GIC invests in India e-commerce giant Flipkart
It believes in the strong growth potential of India's e-tailing industry
By
Michelle Quah
[email protected] @MichelleQuahBT
print |email this article
BT 20140730 MQGIC30 1199959
Press and buy: A visitor at the New Delhi World Book Fair browsing through books available on Indian online retailer Flipkart, whose latest round of funding raised a whopping US$1 billion. - PHOTO: AFP
[SINGAPORE] Singapore's GIC has invested in Flipkart, India's largest e-commerce company - making it one of several investors who have participated in Flipkart's latest round of funding, which raised a whopping US$1 billion.
The sovereign wealth fund confirmed its participation yesterday. In a press release, GIC said that its investment in Flipkart stems from its belief in the strong growth potential of India's e-tailing industry.
Flipkart's latest round of funding is one of the largest for any e-commerce company globally - and the single largest by an Internet company from India.
It will use the funds to make long-term strategic investments in the Internet space in India, especially in mobile technology.
GIC invests in India e-commerce giant Flipkart
It believes in the strong growth potential of India's e-tailing industry
By
Michelle Quah
[email protected] @MichelleQuahBT
print |email this article
BT 20140730 MQGIC30 1199959
Press and buy: A visitor at the New Delhi World Book Fair browsing through books available on Indian online retailer Flipkart, whose latest round of funding raised a whopping US$1 billion. - PHOTO: AFP
[SINGAPORE] Singapore's GIC has invested in Flipkart, India's largest e-commerce company - making it one of several investors who have participated in Flipkart's latest round of funding, which raised a whopping US$1 billion.
The sovereign wealth fund confirmed its participation yesterday. In a press release, GIC said that its investment in Flipkart stems from its belief in the strong growth potential of India's e-tailing industry.
Flipkart's latest round of funding is one of the largest for any e-commerce company globally - and the single largest by an Internet company from India.
It will use the funds to make long-term strategic investments in the Internet space in India, especially in mobile technology.
