BANGALORE: The Bansals of Flipkart Sachin and Binny now boast of a combined net worth

in excess of $1 billion, inching closer to that of Bangalore's iconic tech billionaires N R Narayana
Murthy and Nandan Nilekani of Infosys.

The fresh $1-billion fund raise values the Bansals' combined stake of approximately 15% at over Rs
6,000 crore. The four-member Murthy family has a net worth of around Rs 8,700 crore in India's
second largest IT services company, while the Nilekani family's net worth stands at Rs 6,500
crore.

Consumer internet ventures have been getting fabulous valuations. The US and Chinese internet
markets have fostered many billionaire entrepreneurs as their ventures went public. Facebook's
Mark Zuckerberg has a net worth of $33 billion, while Alibaba's founder Jack Ma has a $12.5
billion net worth, up $8.9 billion year-to-date, according to the Bloomberg Billionaires Index.

READ ALSO: Flipkart raises $1 bn, enters top tier of global startup superstars

The Bansals, who are not related, have a higher net worth than Infosys' co-founder and outgoing
CEO S D Shibulal, who along with his family holds shares worth Rs 4,300 crore in the company.
Infosys' other co-founder Kris Gopalakrishnan's family has a net worth of around Rs 6,500 crore,
as of Tuesday.

"On paper the Bansals personal wealth is a great story, but we will have to wait for a listing to see
their actual net worth," said an investment banker who did not want to be named.



Infosys is now into its fourth decade and has a market cap of about $30 billion. Flipkart's $7
billion valuation story has been scripted in just seven years, and the Bansals are now talking of
creating a $100-billion e-commerce company.


From 2011 to 2014, Flipkart grew its sales from $10 million to an annualized $2 billion, an over
100 times growth in three years. There is a huge revolution in e-commerce in India, with the
future of retailing coming from the internet, said the Bansals while announcing their latest fund
raise. The Bansals believe that in the next 10 years, India would have several $100 billion
companies in the internet space. "Flipkart is much bigger today than we or our investors had ever
imagined," Sachin Bansal said.

In the biggest fund-raising ever for an Indian e-commerce company, Flipkart recently attracted a
whopping $1 billion from its existing investors Tiger Global Management and Naspers.

As per industry experts, the Bangalore-based company is now valued at somewhere between $5
and $6 billion double the estimated value of $2.5-3 billion in May this year.

Flipkart co-founders Sachin Bansal and Binny Bansal want to make Flipkart the country's first
Internet company to be valued at $100 billion.

Flipkart has till now garnered almost $1.7 billion as it battles Amazon and Snapdeal for the top
slot.


Here, we present a timeline of Flipkart's funding how the seven-year-old company that
founders started off with just Rs 400,000 is now worth thousands of crores.

October 14, 2008: Co-founders Sachin Bansal and Binny Bansal start Flipkart with a capital of
Rs 400,000

July 15, 2010: Tiger Global joins with an investment of $10 million

June 16, 2011: The company announces new logo and gets another investment of $20 million by
Tiger Global

August 24, 2012: Investment of $150 million by Tiger Global and Naspers group, crosses gross
sales of Rs 100 crore



July 10, 2013: Attracts investment of $200 million from Tiger Global, Naspers, Accel Partners
and Iconiq Capital, crosses single-day shipment of 1.3 lakh

October 9, 2013: Another investment of $160 million by Dragoneer Investment Group, Morgan
Stanley Investment Management, Sofina, Vulcan Capital and Tiger Global

May 26, 2014: Flipkart acquires Myntra

July 29, 2014: Attracted a whopping $1 billion from Tiger Global Management and Naspers


Just a day after Flipkart announced raising $1 billion, e-commerce giant Amazon, too, announced
that it will invest an additional $2 billion in India to expand its growth in the co