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Tiger Global acquires major stake in two leading ecommerce rivals

By Sujata Sachdeva

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Tiger Global Management, which is the largest stakeholder in homegrown ecommerce leader Flipkart, has now acquired a significant stake in India arm of American etail major, Amazon. Investments are made by different firms under Tiger Global.

According to the data available with the US Securities and Exchange Commission, Tiger Global recently bought 2.44 million shares of Amazon, taking its total holding in the US ecommerce giant to more than 3.19 million shares as of the September quarter. The report said that Tiger Global's stake in Amazon, its second largest US stock holding, was valued at 1.64 billion dollars (over Rs 10,000 crores) at the end of September and almost 2.1 billion dollars (over Rs 13,900 crores) at current share price.

Tiger Global is an investment firm with two businesses - private equity and a public equity (hedge fund) business. The investment in Flipkart is by the former and that in Amazon is by the latter. Tiger Global has a 28 percent stake in Flipkart and has been a part of every funding round in the company. It has so far invested one billion dollars (over Rs 6,600 crores) in the company.

Amazon
Flipkart