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image captionThe Walmart-backed company says it will use the money to expand its operations
Indian e-commerce giant Flipkart has raised another $3.6bn (£2.6bn) ahead of an expected stock market debut.
The Walmart-backed company said it will use the money to expand its operations and invest further in its grocery, fashion and delivery service.
The latest round of fund-raising increased the firm s value to $37.6bn.
The new valuation is more than double the amount the American retail chain paid for a majority stake in Flipkart three years ago.
Flipkart s chief executive Kalyan Krishnamurthy said the new funds would support the company s expansion plans: As we serve our consumers, we will focus on accelerating growth for millions of small and medium Indian businesses.
Canada Pension Plan Investment Board Invests 800 Mn In Flipkart Group
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Flipkart to buy back Rs 600 crore of employee stock options
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A tale of two IPOs
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Hi, Digbijay here. Today, Ashwin and I report on two well-known payments startups and their plans to cash in during the upcoming
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