Online retailer - Flipkart Online Services has raised $150 Mn investment led by Naspers and by existing investor Tiger Global, according to IndiaDigitalReview.
The company which has 4,800 employees and services 50,000 orders a day was recently planning to raise funds. This January it raised $150 Mn from existing investors – Accel Partners and Tiger Global Management in its fourth round of funding.
Flipkart has put a R300 minimum order cap for the free delivery option, to cut down its losses. The company emphasizes more on customer acquisition which lead to a gross margin loss per unit sale.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.