FlipKart Online Services, which runs FlipKart.com has raised an additional $150 million from existing investors Accel Partners and Tiger Global Management Llc. According to this Mint report, the capital infusion values FlipKart.com at around $850 million. FlipKart’s cumulative revenue in the year ended March 2011 jumped to about Rs 50 crore and for this fiscal year, FlipKart is on its way to close with over Rs 500 crore.

This is the fourth round of funding for Bangalore-headquartered FlipKart, which began operations in 2007. The company raised $31 million collectively in the previous three rounds. FlipKart.com had initiated discussions for fund-raising last year with PE firms, including General Atlantic and Sequoia Capital India. The talks, however, failed because of differences over valuation.

FlipKart is present in 12 categories and plans to add more products. It has more than 2 million registered users and sells 30,000 items a day. In October 2011, FlipKart acquired Mumbai based Mime360, a digital content platform founded by Sameer Nigam and Rahul Chari and social book discovery tool WeRead.com from Lulu Enterprises, Inc. FlipKart acquired digital assets of Chakpak.com in November 2011.