India: Valic trims Flipkart valuation to $7.9b

India: Valic trims Flipkart valuation to $7.9b

Flipkart CEO Kalyan Krishnamurthy. Photo: Bloomberg

Mutual fund investor Valic Co. has trimmed the valuation of India’s most valuable start-up Flipkart, months after the e-commerce market leader raised nearly $3 billion from marquee investors led by Japan’s SoftBank, Tencent Holdings, eBay and Microsoft—an indication that some smaller investors in Flipkart are still divided over its valuation.

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