Is IPO-bound Flipkart different under Kalyan Krishnamurthy?

As Flipkart strides toward its next big milestone—the largest tech IPO from India—The CapTable spoke with current and former employees to understand how the organization has evolved under CEO Kalyan Krishnamurthy



Aditi Shrivastava

July 02, 2021

6 Min Read

When Kalyan Krishnamuthy took over as the CEO of Flipkart Group in 2018, shortly after the exits of cofounders Sachin Bansal and Binny Bansal, there was speculation on whether the company could keep its culture and growth intact. Flipkart had just been acquired by Walmart and was undergoing a management reshuffle while also fielding against the government’s tightening ecommerce policies.

Three years later, Flipkart has grown from a consumer internet startup to a large retail business. It has managed to retain many of its key early employees, some of whom now lead large charters at the company. Most importantly, Flipkart has been able to maintain its leadership position against Amazon India, which many had expected to be tough. This was because of concerns that Walmart’s involvement and the exits of the founders would eventually hurt Flipkarts startup culture, particularly under a hired CEO.

But things seemed to have worked out. In the runup to its IPO planned for next year, Flipkart is close to concluding external funding of $3-4 billion from investors including SoftBank and Abu Dhabi Investment Authority at a valuation of $32-34 billion.

“With how things have been going, there is a lot of interest from global like-minded investors who want a big India bet. This will also set the floor price for the IPO next year, hopefully at $50 billion,” said a person aware of the negotiations. 




As a premium subscriber, you will get access to 3+ premium articles a week
Limited time offer
Launch price
/ Year
INR 3,999
Save 40% with our launch offer.
Please apply the code at checkout.

copyCopy Code

Upgrade Now



As a premium subscriber, you will get access to 3+ premium articles a week

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and also disruptive startups so you can make better decisions.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Filtering the Noise

New economy companies cannot always be evaluated using traditional methods. We analyze the relevant metrics, ask the tough questions to get you the right picture

For subscribers only

Premium Reads


View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.