US private equity firms Carlyle and General Atlantic are in
talks to jointly invest about $150 million to $200 million in online retailer
FlipKart, reports Reuters. Carlyle and General Atlantic will pick up a minority
stake in FlipKart after their investment. According to the report, this possible fourth round of
funding by Carlyle and General Atlantic would help FlipKart to boost its
business network ahead of Amazon's entry in India.
FlipKart has generated $11 million in sales last
financial year, and expects revenue to cross $100 million this year. It is
targeting $1 billion in revenue by 2015. Bangalore-based FlipKart had earlier
raised $31 million in funding from US venture capital firms Tiger Global
Management and Accel Partners.