Anirban Sen

Valuation markdowns are just theoretical exercises: Flipkart’s Sachin Bansal

To say 2016 has been a tumultuous year for Indian e-commerce’s poster boy Flipkart would be an understatement. The year started with the biggest executive overhaul in Flipkart’s history. Binny Bansal took over as chief executive and Sachin Bansal moved on to the role of executive chairman in January. Since… Read more »

India: Flipkart-owned Myntra aims to hit profit zone by 2017-18

Flipkart–owned online fashion retailer Myntra, which acquired smaller rival Jabong earlier this year, aims to hit $2 billion in revenue run rate and also turn profitable by the end of the 2017-18 fiscal year, driven mainly by a rapidly growing user base. Myntra chief executive Ananth Narayanan on Thursday said… Read more »

India: US Vanguard marks down value of holding in Flipkart by a third

US-based investment firm Vanguard Group has marked down the value of its holding in Flipkart by a third, further queering the pitch of India’s most valuable internet start-up amid its current fundraising efforts. Vanguard Variable Insurance Funds, which invested in Flipkart in the series G and H rounds it raised… Read more »

Top deck exits continue at India’s Flipkart

Ranjan, who joined Flipkart in May 2015 from Google (Alphabet Inc.), had moved back to the US in June and given up his day-to-day responsibilities of overseeing Flipkart’s engineering function.

India: Will Flipkart markdowns hurt its fundraising prospects?

A mutual fund managed by Morgan Stanley has slashed its estimate of Flipkart’s valuation down to just $5.54 billion, which is about two-thirds lower than the company’s peak valuation of $15 billion and nearly 40% lower than Morgan Stanley’s previous estimate. The mutual fund holds 1,969 shares in Flipkart and… Read more »

India’s most valuable internet firm Flipkart is worth only $5.5b, says Morgan Stanley

At a time when India’s most valuable internet firm Flipkart is looking to raise a fresh round of funding, it has faced another valuation markdown by one of its mutual fund investors. On Tuesday morning, a mutual fund managed by Morgan Stanley drastically marked down the value of its holdings… Read more »

Ispirt’s Innofest to boost crowdfunding for Indian ventures

Software products think tank iSpirt is attempting to boost crowdfunding for Indian ventures with the latest edition of a day-long technology entrepreneurship event, as part of a broader effort to encourage innovation and manufacture of local tech-powered products for the masses. Crowdfunding refers to the process of raising funds from… Read more »

India: VC firms seek more time to return money to investors

As start-up exits continue to be elusive, venture capital (VC) firms have been forced to seek more time from investors to return their money. Most VC firms in India started out in 2006 and 2007. Now, many of them, including Nexus Venture Partners, Kalaari Capital, Matrix Partners and IDG Ventures… Read more »

Senior team’s departure leaves Twitter India in disarray, ZipDial bet unravels

The India business of Twitter Inc. is in disarray after the abrupt departures of six senior executives and the failure of ZipDial, the $35 million acquisition that was meant to drive the social network’s growth in the country, but was junked by chief executive Jack Dorsey, three people familiar with… Read more »

Flipkart in no rush to raise funds, raised enough in the past: CEO Binny Bansal

Flipkart CEO Binny Bansal on Flipkart’s fundraising plans, the Amazon India competition, and key new categories that it is betting on