Flipkart.com is known as the “Amazon.com of India.” The company is reportedly raising $150 million at a $1 billion valuation. If this is true, then Flipkart.com will be the first Internet startup in India to hit that milestone.
General Atlantic Partners is the lead investor in this round. Flipkart previously raised funding from Accel Partners and Tiger Global Management. Flipkart originally started as an online bookstore in 2007. The website was founded by brothers Sachin and Binny Bansal. The company is currently hitting a $70 million revenue run rate.