Flipkart Screenshot from 2015-01-29 12:39:05
A screenshot of Indian online shopping site Flipkart.com. The company is looking to raise around $5 billion via a US IPO, India's Times newspaper reported on Thursday. Web Screenshot

(Reuters) - India's largest online retailer Flipkart aims to double the total value of goods it sells to $8 billion in 2015, two people with direct knowledge of the company's plans told Reuters, as it looks to widen the gap with rivals including Snapdeal and Amazon.com's India unit.

The company's gross merchandise values (GMV), or the value of the goods sold on its site, is currently $4 billion. GMV is calculated on monthly average sales.

Industry sources estimate Snapdeal and Amazon's India arm currently notch up gross merchandising values of around $3 billion and $1 billion respectively.

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