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 Bansal.