At least four senior Flipkart leaders, including SVP Ankit Jain, have quit amid rising cost pressures, IPO plans, and intensifying rivalry in the quick commerce space
The e-commerce company managed to achieve a 63% reduction in losses from Rs 46,895 crore ($6.6 billion) in 2018 to Rs 17,231 crore ($2.42 billion) for the financial year ending March 31, 2019.
Flipkart India's total income rose by 42.82 per cent to Rs 30,931 crore from Rs 21,657 crore
The $500-billion American retail giant has always been a cause of concern for local businesses including mom and pop stores as they feared job losses after Walmart's entry