Flipkart sets a new benchmark

Flipkart is planning to raise over $1 billion, the biggest ever fund-raising by an Indian e-commerce company. Half of the amount will come from existing investors Tiger Global, Russian billionaire Yuri Milner´s DST and Accel Partners while the rest will come from several new investors. With this latest deal, India´s biggest online retailer will have raised over $1.7 billion.