Flipkart had emerged as a leader in the horizontal e-commerce play in India with Rs 43,357 crore topline in FY21 while its arch-nemesis Amazon’s revenue stood in the range of Rs 2,000 crore. To maintain its lead in the ongoing fiscal year (FY22) over Amazon, Flipkart Singapore has invested over half a billion U.S. dollars in its marketplace business.
The e-commerce giant has pumped Rs 4,205 crore or $553.2 million into its marketplace business, Flipkart’s regulatory filings in Singapore show.
Flipkart has been doing slot-based grocery delivery but it recently started competing with Dunzo, Zepto, BlinkIt and Swiggy Instamart with Flipkart Quick which ensures delivery in 45 minutes.
Apart from this infusion, Flipkart Singapore also had expanded its ESOP trust. The company has allotted 21,370 equity shares worth Rs 30.71 crore or $4.4 million to the ESOP trust, a separate filings show.