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Flipkart: Tracing the journey from Rs 4 lakh to $2.5 billion [ad_1]

From an initial capital of Rs 4 lakh in 2007, Flipkart has now grown to $4 billion, after the ecommerce firm raised $2.5 billion through primary and secondary capital. Here's a look at Flipkart's funding rounds, its valuation, as well as some of its major markdowns.

Flipkart founded by IIT-Delhi engineers and former Amazon employees Sachin Bansal and Binny Bansal with Rs 4 lakh or $6,000 in initial capital.

Gets undisclosed angel funding from Ashish Gupta, founder of Junglee (acquired by Amazon in 1998) and Helion Venture Partners

6 things to do and not to do when your smartphone falls in water

6 things to do and not to do when your smartphone falls in water

Whether it's a slip of the hand at the beach, a device forgotten in a pocket, or an overexcited child, smartphones get dropped or submerged in water for all kinds of reasons, and not all models are water resistant. So what should you do to save your smartphone? First of all, don't follow the wrong advice!

Don't: Lie about the smartphone falling in water to the company

Total immersion of the device usually voids the warranty, unless an optional "accidental oxidation" guarantee has been added. Make sure you read all the clauses of your contract carefully. Sometimes certain conditions have to be met in order to obtain a refund. Don't try to deny an immersion incident: Smartphones are equipped with "immersion sensors" which change color when they come into contact with liquids.

Do: Wipe it throughly and switch it off

Get your smartphone out of the water as quickly as possible and wrap it in a clean, dry towel. If it's still on, then switch the device off. Then, wrap it in paper tissues or kitchen towel to absorb as much moisture as possible. Unplug any accessories (headphones, cables etc.) and remove the SIM card and any memory cards.

Do: Put the smartphone in a bag full of rice

The ideal solution would be to shut the phone in an airtight box with moisture-absorbing sachets, but not everyone has industrial dehumidifying tools to hand all of the time. Uncooked rice can be a substitute solution, since the grains absorb moisture. However, rice also makes a lot of dust, which isn't good for smartphones. Leave the mobile completely submerged in a bag full of rice for a minimum of 24-48 hours.

Don't: Dry out the phone with a hairdryer

The heat from a hairdryer is too hot. This can damage fragile electronic components in the device. Also, avoid placing your smartphone near a hot oven (or worse, in the oven) or on a radiator.

Don't: Rinse the smartphone in clean water

While there's some chance of saving a smartphone that falls into fresh water, the chances of saving it after a dip in salty seawater are considerably slimmer. In fact, the salt will cause the metal parts of the device, as well as the onboard electronics, to oxidize much more quickly. Rinsing the device in clean water won't help either. The damage is already done ...

Do: Back up all ypur data as soon as the smartphone powers up

Immersion in a liquid is often fatal for smartphones, but in some lucky cases, the device will switch back on and power up as normal. In that case, the first thing to do is back up all of your data. Certain parts of the device risk rusting very quickly: The smartphone's lifespan will have been considerably reduced by its underwater adventure. You will, however, probably have enough time to choose a new model.


Raises first institutional round from venture capital firm Accel India of $1 million, valuation less than $5 million.

Raises $10 million from New York-based VC Tiger Global Management. Valuation less than $50 million.

Raises another $20 million from Tiger Global and starts talks with private equity funds, including General Atlantic, for a mega round with valuation of $1 billion.

2012 August:
Announces $150-million round led by South African media and internet giant Naspers, valuation hits $1 billion.

2013 October:
After raising $200 million from existing investors in July 2013, raises another $160 million from Morgan Stanley, Vulcan Capital, Sofina & Dragoneer. Valuation moves up to $1.6 billion.

March: Acquires fashion portal Myntra

May: Raises a $210 million from DST Global. Valuation goes to $2.6 billion

July: Announces $1-billion funding round from GIC Singapore and existing backers Tiger Global, Naspers and DST Global among others. Valuation jumps to $7-billion.

December: Raises a $700-million round from hedge funds like Steadview, Greenoaks, mutual fund T Rowe Price & sovereign wealth fund Qatar Investment Authority. Valuation goes over $11 billion.

2015 July:
Raises another $700 million from existing investors, valuation reaches a record high of $15.2 billion.

February: Morgan Stanley MF marks down valuation of Flipkart shares to $11 billion

November: A Morgan Stanley mutual fund makes another major cut to value of its Flipkart shares, now valuing the company at $5.6 billion.

Flipkart acquires Jabong and PhonePe in 2016

April: Raises $1.4 billion from eBay, Tencent and Microsoft, also acquires eBay.in in the process

August: Raises $2.5 billion from SoftBank Vision Fund through primary and secondary capital. Tiger Global gets partial exit. Bansals also sell part of their stake.


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