Where is Flipkart’s long-in-the-making IPO?

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Where is Flipkart’s long-in-the-making IPO?

Where is Flipkart’s long-in-the-making IPO?
Where is Flipkart’s long-in-the-making IPO?

Kalyan Krishnamurthy, CEO of Flipkart; illustration by Manali Ghosh

Synopsis

Huge losses, missed targets, top-level churn, and a heavily skewed GMV mix suggest that Flipkart has its task cut out ahead of its elusive public listing. 

The year was 2018. US retail giant Walmart had just picked up a 77% stake in Indian e-commerce startup Flipkart for USD16 billion. Since the first day of the takeover, two clear targets were repeatedly communicated by the management: #1. Going public. #2. Expanding and developing categories beyond Flipkart’s bread-and-butter segment of mobile phones and apparel. The detailed press statement announcing the acquisition on May 9, 2018, had two

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