Latest posts by TheStartupMojo (see all)
- Big Data Startup Qubole raises $25 Mn - November 10, 2017
- After Tata, Adani Wilmar enters into ecommerce space with Infibeam - November 10, 2017
- Finally Paypal hits India, rolls out domestic payment services after a year of Demonetisation - November 9, 2017
Mutual fund investor and research organisation Valic Co. has marked down the valuation of Flipkart to $7.9 Bn. This is when, the ecommerce giant has received massive funding from Softbank, Microsoft and Tencent in two rounds of funding.
Valic marked down the valuation to be $7.9 Bn against the $11.6 Bn valuation at which Flipkart raised funds in two rounds recently. Valic valued each Flipkart share at $88.11 against its previous figure of $94.27 in the previous quarter.
This comes as a surprise as the organisation has been on the funding spree and seems to have out-grown its competition, after its Big Billion Days and Diwali sale GMV numbers. Read How is Flipkart spending investor’s money?