Comments
Bangalore-based online book store Flipkart.com announced on Thursday that it has raised $20 million from its investor Tiger Global. The funding, raised earlier this year, will be used for building more capacity in supply chain and logistics, upgrading technology capabilities and expanding marketing initiatives, the company said in a press release. With this, the total investment in Flipkart is about $31 million.
Mr Sachin Bansal, Chief Executive Officer, Flipkart, said in the release that with consumers increasingly shifting their purchases online, it is imperative for the company to expand its presence and take it to the next level. “These funds will enable us to build more capacity in our supply chain so that we can shrink customer delivery timelines while expanding our product base. This will also enable us to upgrade our technology backbone,” he added. According to him, the company would also invest in its marketing initiatives to build a customer base across the country.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.