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Flipkart sticks to 'strong traction' line after massive devaluation

According to Morgan Stanley, Flipkart is now worth $6 billion from $15 billion, reports Tech in Asia

Nivedita Bhattacharjee 

Flipkart is going with its message of strong business momentum and “innovating for the customer” in the face of a massive markdown by Morgan Stanley.   The ecommerce company, once thought to be worth $15 billion, is now only worth $6 billion, according to a Morgan Stanley fund. The company, however, is putting up a brave front, saying market valuations aren’t all that important.   Earlier this year, Flipkart CEO Binny Bansal started talking about customer-centricity. In May, he followed Amazon and Snapdeal in cheering for customer service over ...

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First Published: Wed, November 30 2016. 17:37 IST
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