Recently Flipkart was marked down in it’s valuation by a couple of investors and third- parties! Sachin Bansal, the founder of the e-commerce giant Flipkart considers them as their ” opinions” and cited the case of Uber to illustrate that it will not impact fundraising plans of the e-commerce major.
“That does not matter. If you look… they did it to Uber as well. Uber raised (money) at a higher valuation. They did it to one more company, they also raised money at higher valuation,” Bansal said on the sidelines of an event.
“I think it does not matter, people have their own opinions and it is their own opinion,” he added.
He was also confident about the fact that these statements will not have any impact on the company’s future fund raising.
For now, Flipkart is pretty well capitalized and is not looking for any funds!
At its peak, Flipkart was valued at over $15 billion during which it raised funding in the last year.
A host of its investors have marked down their valuation estimates by up to 39% in the recent past.
Describing the global investment scenario as “a little shaky right now”, Bansal said companies like his continue expanding despite the loss of investor interest.
Flipkart expanded its customer base by 100 per cent last fiscal and is targeting to achieve a similar growth in 2016-17 as well, he said.