With Tiger Global firmly in charge, Flipkart begins dressing itself up for suitors
Krishnamurthy’s first and foremost qualification to be Flipkart’s CEO is that he is Lee Fixel’s man
Flipkart raised too much money, too soon
Flipkart started well and excelled at execution but in the last few years, this is the bit that has come undone
Flipkart is also floundering because it didn’t see through a lot of its bold moves
In the two years between July 2013 and July 2015, Flipkart would go on to raise capital at a dizzying pace – seven times – taking in a cumulative amount of $3 billion from numerous blue-blooded investors. During the same period, its valuation would shoot up over ten-fold from roughly $1.5 billion to $15 billion.
It was a company that could do no wrong. A golden unicorn that everyone wanted to touch.
And then, the ninepins started falling. Exactly a year ago, in January 2016, CEO Sachin Bansal resigned and was replaced by his fellow co-founder Binny…
Sign up to read this story for free right now
Stories on The Ken are available only for its subscribers. Join us now to get instant access.
Complete access to all stories on The Ken. Rs. 2,750/year or Rs. 900/quarter
Dear subscriber - a lot of hard work goes into the journalism we put out. While sharing snippets or limited screenshots is okay, please avoid printing and sharing our entire articles as PDFs. Our plans are very affordable - please ask your friends to subscribe.