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#1
30-07-2014, 01:00 PM
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GIC in US$1 BILLION investment in Indian dotcom!
An honorable member of the Coffee Shop Has Just Posted the Following:
http://www.businesstimes.com.sg/prem...pkart-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. Click here to view the whole thread at www.sammyboy.com. 
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