Former Fidelity India executive Pratul Chopra joins Flipkart

Pratul-Chopra_feThe founder of carpooling app iRideShare and former head of marketing analytics at Fidelity India Pratul Chopra has joined Flipkart’s senior leadership team. At Fidelity, Chopra had worked under Nitin Seth, former country head of Fidelity in India and currently Flipkart’s chief operating officer. Chopra joined on Monday and will be part of strategy deployment. […]

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Flipkart has no plans to cut jobs, says COO Nitin Seth

VCCircle_Flipkart8Flipkart’s chief operating officer Nitin Seth has allayed fears that employee rationalisation, which has been rearing its head in the country’s e-commerce sector, will engulf the company as well. “We had to go through that phase last year but with the growth we saw in the last quarter and January, and with February shaping up […]

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Flipkart’s loss doubles in FY2015-16

FlipkartThe net loss of Flipkart Internet Pvt. Ltd, which operates e-commerce major Flipkart, doubled to Rs 2,306 crore in the financial year ended 31 March 2016, compared with Rs 1,096 crore in the year-ago period, according to filings with the Registrar of Companies. The company’s revenues rose to Rs 1,952 crore in FY2015-16 from Rs […]

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Will latest markdowns affect Flipkart, Ola and Snapdeal’s fundraising?

bookmyshow_fund-raisingYear 2016 has not been a great period for Indian consumer internet companies. Not only has there been a sharp decline in the number of deals in this space, companies that saw large cheques and subsequent valuation jumps earlier are now facing what they dread the most – markdowns on their valuations. Top Indian consumer […]

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Tech startups: Time for a reality check?

startupHas the moment of reckoning arrived for Indian internet companies? As India’s e-commerce poster boy Flipkart suffered its fifth markdown this week, this was the question that was on everyone’s lips. Around $5.8 billion has been shaved off its mid-2015 value of $15.2 billion when it last raised funds. A long overdue reality check seems […]

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Morgan Stanley now values Flipkart less than $10 billion

FlipkartIndian e-commerce firm Flipkart has suffered its fifth markdown after a mutual fund managed by global financial services firm Morgan Stanley slashed the value of its stake in the company by 15.5%. The Morgan Stanley Institutional Fund Trust estimates each Flipkart share is worth $87.86 at the end of March 2016 compared with $103.97 three […]

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