Saturday, April 20, 2024
Outlook India
Outlook Business

Flipkart Valuation

After Walmart acquired a majority stake in Flipkart, co-founder Binny Bansal has formally stepped down from the e-commerce giant's board. Binny, who sold his remaining stake to Walmart, has initiated a new start-up called OppDoor.

According to reports, this is not a pre-IPO round and preparations are being made to raise another fund in the next year.

The move impacts around 4,500 employees in grade 10 and above