Walmart's Flipkart is embarking on a round of funding that could rise as high as $2 billion, according to sources who spoke with the Economic Times of India. Flipkart is looking into an initial public offering in the United States, though the plans are subject to change. This round of funding is aimed at raising money for expansion, and not necessarily with an eye toward an IPO.
The source said the fundraising round is “is not being positioned as pre-IPO but for expansion. The management believes there is a lot of value” as yet to be unlocked.