The Bansals of Flipkart inching closer to iconic tech billionaires N R Narayana Murthy

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After the 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.

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.

Mobile phone launches that are done online and sold exclusively on the Internet were a dream in India until now, when the Motorola budget smartphone (and maybe the last from Motorola – A Google Company taglines) Moto G launched exclusively on Flipkart. The Motorola Brand has made a comeback with the Moto G and it tied-up with Flipkart to launch this budget smartphone here, but had not made sure that everything would go well. The 16 GB variant which was a more value-for-m0ney offer got sold out within the first 15 minutes. India never seen this types of smartphone craze in India before this.This was the first time people got up at midnight just to get their hands on a phone with some freebies.