The e-commerce company is reportedly in talks with Alibaba and Fosun over a round that would be sized at up to $1bn, but which would also be raised at a lower valuation.
India-based e-commerce company Flipkart is looking to raise up to $1bn in new funding with China-based e-commerce firm Alibaba likely to be among the investors, TechCrunch reported today, citing undisclosed sources.
Founded in 2007, Flipkart has grown its online marketplace to 30 million products across more than 70 categories. It has 46 million registered users but is raising additional funds to ward off competition from local rival Snapdeal and US-based Amazon.
The funding looks likely to be raised at a…
