 "Tiger Global: Flipkart's largest investor and second largest stockholder in Amazon")
Tiger Global, the largest investor in Flipkart, has emerged as the second largest stockholder in Amazon, its global rival, Business Insider said in a report on Tuesday. With this, Tiger has significant stake in two of the three large e-commerce firms in India, who combined control on over 80 per cent of India's e-commerce industry.
Snapdeal is the third firm, which is a large competitor for both Amazon and Flipkart. It has investments from Japanese firm Softbank, which has also invested in Alibaba, China's largest online player.
Tiger invested $ 1.1 billion to buy 2.44 million shares in Amazon and increase its stake to over 3.19 million shares in the world's largest e-commerce firm, the report said, citing a regulatory filing by the hedge fund.
In India, Tiger led an investment of over $ 1 billion in Flipkart, an existing portfolio firm, in June 2014. So far, it has invested over $ 2 billion in India, including $ 1 billion in Flipkart
Global hedge funds and venture capital firms invest in multiple companies