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Tiger Global made $3 bln from Flipkart investment: Bloomberg

Tiger Global has made about $3 billion on its $1 billion investment in Flipkart Group, Bloomberg is reporting. Tiger Global’s venture capital unit initially invested $9 million in Flipkart in 2009 that grew to $1 billion over several years, ending up with a 20 percent stake, Bloomberg said. Tiger Global sold part of its stake to SoftBank Group last year. Walmart agreed May 9 to buy a majority of Flipkart in a $16 billion deal. Tiger Global will hold a five percent stake in Flipkart after the Walmart transaction, the story said.