This is not the first time that the two mutual fund investors have lowered their valuations. Fidelity and Valic had earlier marked down their holdings in the company by 24 per cent and 12 per cent respectively in the previous quarter.
Last couple of months has been a nightmare as the company was all over the news (of course for the downbeats). Here is the list of 3 catastrophic incidents Flipkart came across within 4 months of 2016:
My incredible journey with Myntra and Flipkart comes to an end. It has been amazing 9 years filled with lot of learning, privilege to work with outstanding people and chance to participate in building future industry.
With co-founder Binny Bansal taking over as CEO from Sachin Bansal and due to Amazon gaining mind share because of its advances on the web in India,Flipkart is once again emphasizing on the web, and the desktop.
One of the biggest Bollywood superstars, Aamir Khan's comment on his concern over 'rising intolerance' has started a debate on free expression in a country that swears by their leading (Bollywood) men.
In an attempt to not repeat what happened during the last "Big Billion Day" Sale, eCommerce giant, Flipkart has sent over half-a-million snail mail postcards to its users for making the company's ambitious sale bonanza, a success.