Indian electric trader Myntra 25 million dollars to expand company business

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It is rumored that Myntra, a popular online retailer in India, has just secured a $25 million trillion investment that the company will use to expand its size. and helped 120 million of the country's young netizens learn to shop online.

Myntra investor Accel and Tiger Fund are poised to embark on a new round of investment aimed at the electric Internet start-up team, which has accumulated 38 million dollars in investment, according to the Times of India.

They also invested a total of more than 100 million dollars to Flipkart. Flipkart, a local electric-business firm in India, is currently competing with Amazon. After this round of investment Flipkart is likely to become another popular online retailer.

Although outside rumors Myntra desperately needed investment, Myntra's co-founder Mukesh Bansal told the media that the company did not need new investment, at least for the next 10-12 months.

India's internet penetration rate is less than 10%, so India's internet still has a lot of room for development. The development of smartphones and mobile devices is driving the development of the local Internet. According to StatCounter data, India's mobile devices will be more traffic than fixed-line traffic by the end of this year, so the support of mobile networks is crucial to the development of websites. Therefore, for the electric business people, who first grabbed the mobile market, who grabbed the initiative, this is a good opportunity.

Amazon recently entered the Indian Internet market through the creation of the Junglee website, Junglee is a comprehensive online store offering a total of more than 12 million products including 14,000 brands. Wal-Mart has also recently shown its intention to open an online mall in India, as it sees the Internet in India. The joining of US retail giants will unleash an innovation storm in India's electricity business.