Flipkart reshuffle triggered by valuation mark-downs: Report
The appointment of Kalyan Krishnamurthy as Flipkart's CEO replacing Co-founder Binny Bansal was reportedly triggered by the repeated mark-downs in the startup's valuation. Flipkart, which became India's most valuable startup in 2015 with a valuation of $15 billion, faced writedowns by Morgan Stanley and Fidelity among others. Flipkart was valued at $5.54 billion at the end of November 2016.