Fidelity slashes Flipkart's valuation to $5.5 billion
US-based mutual fund Fidelity Investments has marked down the valuation of its holdings in Flipkart by over a third, bringing down Flipkart's valuation to $5.5 billion. This markdown of 36% by Fidelity is its biggest till date, and fourth overall. In November 2016, mutual fund Morgan Stanley slashed Flipkart's valuation to $5.59 billion, down from $15 billion a year ago.