Uber raised (money) at a higher valuation. Sachin Bansal says Flipkart is well capitalized at present and is not looking for fresh fundsFlipkart expanded its customer base by 100% last fiscal and is targeting to achieve a similar growth in 2016-17 as well, chairman Sachin Bansal said. They did it to one more company, they also raised money at higher valuation,” Bansal told PTI on the sidelines of an event when asked about the recent markdown by Morgan Stanley. Asked if this will impact the country’s largest e-commerce company’s fund raising plans in the future, Bansal said, “Absolutely not”. Photo: MintMumbai: Battling successive markdowns in valuation by investors and third-parties, Flipkart’s chairman Sachin Bansal has said such cuts are their “opinions” and cited the case of Uber to illustrate that it will not impact fundraising plans of the e-commerce major.

Source: Mint July 03, 2016 10:18 UTC