Backed by the 100 billion e-commerce market! India's largest e-commerce company Flipkart explores listing in the United States

According to the Indian Retail News, Flipkart, India's largest e-commerce retailer, has benefited from the rapid growth of e-commerce during the COVID-19 pandemic and is currently exploring a merger with a special purpose acquisition company ( SPAC ) to seek a listing in the United States.

Unlike the traditional IPO process, Flipkart 's listing method is less invasive, with fewer financial disclosure requirements for the company, and will enable Flipkart to use the new funds to actively expand more businesses as competition in India's e-commerce market intensifies .

According to GlobalData, the Indian e-commerce market has doubled between 2017 and 2020. The market was already on a growth trajectory , fueled by the COVID-19 pandemic . In 2020, the market was valued at $60.5 billion and is expected to grow at a compound annual growth rate of 16% to reach $111.3 billion by 2024.

Indian e-commerce is currently dominated by Amazon and Flipkart. However, the market is about to be disrupted by local Indian conglomerate Reliance Industries. Jio Mart ’s integration with WhatsApp has already caused some excitement . In addition, e-commerce startups such as Oyo Rooms, Swiggy, Zomato, Ola Cabs and BigBasket have also increased the competitive pressure in the Indian e-commerce market .

In 2020, India’s e-commerce and consumer internet companies raised over $8 billion in PE/VC capital across 400 deals (excluding the Jio Platforms investment), giving rise to nine new unicorns.

Faced with competition from latecomers, Flipkart is actively exploring plans to go public in the United States to raise funds for expansion. With these new funds , Flipkart will continue to invest in technology and business expansion to compete with its competitors.

In order to diversify its business, Flipkart has now entered the "buy, buy, buy" mode . In 2020, it acquired augmented reality company Scapic and real-time multiplayer gaming platform Mech Mocha.

In addition, Flipkart is reportedly looking to acquire a stake in online travel aggregator Cleartrip. These investments will further strengthen its position in the Indian e-commerce market.

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