Flipkart hits $1 billion in sales

Indian e-tailer Flipkart has hit the $1 billion in sales-- a feat that it has managed to achieve before its own target and in roughly the same time it took online giant Amazon to do the same in the U.S.

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Indian e-tailer Flipkart has hit the $1 billion in sales-- a feat that it has managed to achieve before its own target and in roughly the same time it took online giant Amazon to do the same in the U.S.

"In March 2011, we announced that we wanted to hit $1 billion in gross merchandise value by 2015. At that point, our run rate was $10 million," said Sachin Bansal, co-founder, Flipkart, in a message.

"Today we are proud to announce we have hit a run rate of $1 billion GMV, which means we have grown 100 X in the last three years," he added.