South Africa-based internet company Naspers holds a 17.7% stake in India-based e-commerce company Flipkart following a $51m investment in May, the Economic Times reported yesterday.
Flipkart raised a total of $210m in the round, which was led by investment firm DST Global and which also featured Tiger Global Management and Iconiq Capital. The funding helped to support Flipkart’s acquisition of competitor Myntra shortly afterwards.
Naspers did not disclose the valuation of Flipkart when it made its latest investment, though its stake prior to the funding was 16.7%.
Flipkart has raised about $750 in funding overall, with backers also including Accel Partners, Sofina, Morgan Stanley, Dragoneer and Vulcan Capital.