The e-commerce platform is conducting due diligence for an investment that would reportedly more than double last-mile delivery service Shadowfax's valuation to $200m.
E-commerce marketplace Flipkart is likely to invest $40m in India-based on-demand logistics provider Shadowfax at a $200m valuation, the Economic Times reported today, citing two people familiar with the matter.
“Flipkart has put in a term sheet and the due diligence is ongoing right now,” one of the sources told ET.
Shadowfax offers last-mile delivery for businesses selling food, groceries and pharmaceuticals. It is active in more than 200 cities and can access a network of more than 1,000 commercial…
