{
}
Flipkart's CEO Kalyan Krishnamurthy has been directed to cut the company's monthly cash burn from $40 million to $20 million as it prepares for a potential IPO and shifts its legal base to India. The board is reviewing funding for various units while expanding into quick commerce with plans to launch 500 new dark stores. Despite the challenges, Flipkart's marketplace business reported a 21% revenue increase in FY24, reducing losses significantly.
Flipkart plans to expand its quick commerce operations significantly, aiming to grow its Flipkart Minutes brand from 300 to 800 stores by the end of 2025, driven by demand from affluent consumers in major Indian cities. Despite its large user base, Flipkart faces tough competition from established players like Blinkit and Zepto, who have extensive networks of dark stores. The quick commerce sector is marked by financial challenges, with companies incurring substantial losses while racing for market dominance, highlighting the need for a balance between aggressive growth and sustainability.
Flipkart Group has appointed Dan Bartlett, Executive Vice President of Corporate Affairs at Walmart, to its Board of Directors, effective November 21, 2024. Bartlett, who has been involved with Flipkart since Walmart's investment in 2018, brings expertise in public policy and sustainability, aiming to enhance Flipkart's role in sustainable growth and job creation in India. CEO Kalyan Krishnamurthy emphasized that Bartlett's experience will be a valuable asset as the company continues to expand.
Kalyan Krishnamurthy
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Flipkart CEO directed to cut costs amid rising cash burn and IPO plans
United States Dollar
Indian Rupee
Walmart Inc.
Google Inc.
SWIGGY LIMITED
SGP
IND
Keki Mistry
Lydia Jett
Kalyan Krishnamurthy
Dan Bartlett
Show more
06:55 23.04.2025
Flipkart aims for 800 quick commerce stores by 2025 to boost growth
06:16 11.04.2025
Flipkart appoints Walmart executive Dan Bartlett to board of directors
11:04 22.11.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
Banking Regulations
Retail and Consumer Goods
Market Analysis and Predictions
CEO Changes
Global Trade Developments
Industry Mergers & Acquisitions
Energy Sector Developments
Startups & Entrepreneurship
Supply Chain Management
Financial Scams and Security
Government Policies
Central Bank Actions
Government Economic Policies
Domestic Politics
Workplace Trends
Countries:
Companies:
Tesla, Inc.
Barclays PLC
BNP Paribas SA
JPMorgan Chase & Co.
Apple Inc.
Raiffeisen Bank International AG
Deutsche Bank RV Global PP
Bank of America Corporation
UBS Group AG
NVIDIA Corporation
Morgan Stanley
Capital One Financial Corporation
The Goldman Sachs Group, Inc.
Citigroup Inc.
Berkshire Hathaway Inc.
Amazon.com, Inc.
SpaceXCoin USD
Commerzbank AG
Credit Suisse Real Estate Fund Siat
Wells Fargo & Company
Currencies:
United States Dollar
Euro
Chinese Yuan
Swiss Franc
Indian Rupee
British Pound Sterling
Vietnamese Đồng
Japanese Yen
Australian Dollar
Hong Kong Dollar
United Arab Emirates Dirham
Russian Ruble
Singapore Dollar
South Korean Won
Thai Baht
Norwegian Krone
Danish Krone
Swedish Krona
Ghanaian Cedi
Canadian Dollar
People: