Flipkart’s $1 billion has now been overshadowed in the public by Bezos $2 billion but it still remains the single largest round by an Indian internet company. Flipkart is also the first e-commerce company out of India to hit US $1 billion in GMV. Sachin Bansal and Binny Bansal (not relatives) said; “We believe the internet will improve the quality of life for millions of Indians, and e-commerce is going to play a huge role in this change. The focus at Flipkart is to continue to make shopping online simpler and more accessible through the use of technology. Flipkart says it has about 22 million registered users and handle’s 5 million shipments a month but because India has 243 million internet users and growing by the day, Flipkart wants to do more. “We want to enable every Indian to either shop or sell online. And we believe that the power of the mobile internet is going to help us achieve this goal.By 2020 India will have more than half a billion mobile internet users. Our intense focus on mobile and technology puts us in a unique position to take advantage of this massive opportunity,” they said.
