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"Flipkart , a leading e-commerce company who competes with other industry giants like Amazon and Snapdeal, has no immediate plans to go public. Analysts suggest the company is worth a cool $11 billion and is one of the biggest e-commerce businesses in India. Ironically, the company belongs to a former employee of Amazon and launched nearly eight years ago, having a launch date in 2007. Over the course of the next three years, the company does not intend to go public. According to Sanjay Baweja, Flipkart\u2019s Chief Financial Officer, Flipkart has plenty of funds to remain in business, thanks to foreign investors, that the company does not have any eye on going public for the next three to five years. The funds are coming from India\u2019s retail sector, which has grown exponentially over the past few years. Baweja\u2019s assertion flies directly in the face of assumptions made by some believing the company was set to raise nearly $5 billion by launching an IPO this year. In 2014, India\u2019s retail sector attracted $5 billion in investments from investors like the Qatar Investment Authority and Japan\u2019s SoftBank Corp. The funding has diminished pressures companies might otherwise face that would force them to launching and IPO. \u00A0Even without an initial public offering, Flipkart is in a terrific position \u2013 the company anticipated a doubling of its goods value by the end of March 2015. \u00A0Baweja confirmed and stressed the fact that Flipkart is not actively seeking to launch an IPO. The company sells a variety of products, including cosmetics, cell phones, and suitcases. Some of the financial backers of the business include the likes of Access Partners and Tiger Global Management . \u00A0At this point, Flipkart can stand alone with foreign investment funds and its financial position is not completely clear as they keep their financial a secret. What is known is the company has not achieved a profit to date, in part due to the discounted prices on products and the massive amount of marketing the company performs. Additionally, Flipkart spends a lot of money on offering superior technologies and an excellent delivery network. Baweja asserts that the company's three to five-year plan promises the company with turn a profit."^^<http://www.w3.org/2001/XMLSchema#string>
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