Tiger Global Management reduces stake in US rival Amazon

Q.  Tiger Global Management has reduced its stake in Amazon by 67%. Which e-commerce major is it the largest investor in?
- Published on 18 May 16

a. Snapdeal
b. Myntra
c. Jabong
d. Flipkart

ANSWER: Flipkart
 
Tiger Global Management, the largest investor in e-commerce major Flipkart has reduced stake in US rival Amazon by 67 percent in the March ended quarter. Hedge fund has cut exposure to 1.04 million shares worth $619 million as of March 31, down from 3.19 million shares worth $2.16 billion as of December 31, as per regulatory filings.
  • The fund also reduced its stake in Chinese e-tailer JD.com by nearly 25% and entirely dissolved its minority stake in Alibaba .
  • Amazon was Tiger Global's second-largest public holding, after it had picked up 2.44 million shares for about $1 billion in September last year. The hedge fund however lost 22% in the first three months of this year, as Amazon shares dipped by 12% during the period.

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