Indian king “electricity” it won $1 billion in new funding


according to, known as the “Indian amazon,” said the e-commerce sites, it earned $1 billion at a new round of financing. Analysts said that this will help it effective against competition from amazon and eBay.

it status in India compares the absolute dominance of the north American electric dealer market – amazon. Both in addition to the similar business scope, etc, its business model is the same. Previously, it also introduced based on customized version of the Android system independent brand mobile phones. Interestingly, the equipment is also carried a similar service project and amazon members.

this round of financing from the fund, DST Global, accelerate the partner, ICONIQ capital, Morgan Stanley investment banking, Sofina. Before this round of financing, it has received more than $700 million in financing.

although electricity industry has entered the mature period, but due to regional markets “governors regime”, seem to also will exist for a long time. According to a new study shows that by 2020, the total value of electric dealer market in India alone will exceed $50 billion. And this is why amazon and eBay have move into emerging markets such as India.

so far, it registered users to 18 million, more than 3.5 million active users. This number cannot be compared to the amazon, but for India, it is India’s king “electricity”.