IDG Ventures India is reportedly looking to divest the rest of its stake in e-commerce company Flipkart for about $100m, following on from a $125m partial exit last year.
IDG Ventures India, a corporate venturing affiliate of media firm International Data Group, is considering the divestment of the remainder of its stake in India-based e-commerce platform Flipkart, Hindu Business Line reported on Tuesday.
Flipkart operates India’s most widely used e-commerce marketplace, with 46 million users, and is currently seeking up to $1bn in new funding in order to maintain its position amid competition from local rivals such as Snapdeal and international giants like Amazon.
IDG Ventures India acquired…
