Flipkart's second largest investor, Naspers, has indicated that the ecommerce marketplace is the largest in India. The announcement means that it beats the global giant Amazon, one of its biggest rivals in the region. According to Naspers' report, Flipkart's share of monthly gross merchandise value stood at roughly 57% in March 2017, up from 45% in June 2016. The company's resurgence has been put down to 2016's Big Billion Day, where it beat Amazon. However, Amazon has claimed that the report is misleading, and has said that Amazon India is the country's leader “on things that matter to customers and sellers”. It has also said that Amazon India has seen an 85% increase in gross sales in the first quarter of this year.