E-commerce major Flipkart expects to start earning profits in three years and wants to launch its IPO between 2015 and 2020, the company's co-founder Binny Bansal told reporters in Hyderabad.
E-commerce companies have witnessed a huge jump in sales on the back of increasing Internet population and growing preference for online shopping.E-commerce major Flipkart expects to start earning profits in three years and wants to launch its IPO between 2015 and 2020, the company's co-founder#
Backed by venture capitalists, Flipkart has raised closed $2 billion from investors like Tiger Global, Naspers and GIC, Singapore's sovereign wealth fund. The company is valued at over $10 billion currently. But most e-commerce companies are operating at a loss because of the heavy investments being made to build the back-end and delivery infrastructure.
Flipkart has 45 million registered users clocking 10 million daily visits and delivers about eight million shipments per month.
Asked about a likely date for an IPO launch, Bansal said, "I think IPO will happen probably in next 2-5 years... It depends on lot of factors... I will be guessing up when it is going to happen."
ALCHEMPro News Desk - India
marketing@alchempro.com
