Flipkart, India’s answer to US online giant Amazon, said on Saturday its sales would cross the milestone USD1 billion-mark this year, ahead of schedule, in the country’s exploding e-commerce market.
Founded in 2007 by two ex-Amazon.com employees and university friends, Flipkart.com has become India’s biggest shopping portal hit and has drawn backers such as New-York based venture capitalists Tiger Global Management LLC.
Now the privately held firm expects to hit USD1 billion in sales "one year before our target" which means "we’ve grown 100 times in the last three years," the founders Sanchin Bansal and Binny Bansal, who pool operational responsibilities, said in a statement.
(Source: The Malaysian Insider )