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.

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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