date:Jan 22, 2019
India: Flipkart secures more funding for Amazon battle
Indian e-commerce firm Flipkart has received US$201mln funding for its wholesale business from its Singapore-incorporated parent. The investment comes during a period of intensifying competition between the firm and its Amazon-backed competitor in a market estimated to be worth $18bln. It signals a prioritising of sales growth by the retailer since its acquisition by Walmart. A report last year indicated that Flipkart has seen a more than 80