The two Bansals have managed to raise over $3 billion from investors such as Accel India, Tiger Global, Steadview and Greenoks Capital since starting Flipkart. The latest injection, $700 million, came in late July, from Tiger, Steadview and others.
This unending slew of new money has allowed Flipkart to heavily invest in cementing its position as market leader without worrying about losses.
Sanchit Gogia,Chief Futurist, Founder and CEO, Greyhound Knowledge Group, said the rearrangement of titles is “not extraordinary or shocking.” It is a strategic move, “a new lease on life for Flipkart,” he concluded.
Source: Nikkei Asian Review