Morgan Stanley, which is one of Flipkart investors has marked down Flipkart’s share value by 27%. Flipkart was earlier valued at $142.24 per share as of June 2015 and stands at $103.97 on Dec’15.

Flipkart is facing stiff competition from Amazon and Snapdeal and the focus now is on growing a few categories like electronics (they shutdown the grocery business).

With cofounder Binny being the new CEO, this is going to be a defining moment for the company as the funding environment is slowing down and importantly, Amazon is heating up the market.

Recently, Mukesh Bansal and a few others (CBO) had quit Flipkart.

[source/via]

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