Tough time continues for Flipkart after continuous valuation markdowns by Morgan Stanley and other investment arms. In a latest Fidelity Investments adjusted Flipkart valuation to a new low of 5.56B USD, This is 36% down to the earlier one.
This comes at time time when Flipkart did a restructuring of management and changed its CEO Binny Bansal. Apart from this many senior executives left the organization owing to cost cutting.
This will not have any immediate impact to the organizations growth, However further investments will be impacted and founders shares will have to be diluted accordingly.
Want to be a guest author? Register Here to share your business knowledge with our readers.