EDITIONS
Ecommerce

What's the Flipkart Group?

Sindhu Kashyap
11th Jan 2017
Add to
Shares
11
Comments
Share This
Add to
Shares
11
Comments
Share

While we ventured into 2017 looking forward to spring instead of winter, one of the biggest players in the Indian startup ecosystem had a shocker up its sleeve. Flipkart, on January 9, announced that Kalyan Krishnamurthy has taken over as Flipkart CEO and Binny Bansal will now be the Group CEO. This announcement came a year after Binny replaced Sachin as the CEO of the e-commerce giant.

As Group CEO, Binny will be overseeing Myntra and Jabong, Ekart, and PhonePe. Kalyan will be responsible for operationally driving Flipkart as well as for Flipkart P&L. Expectedly, the last two days have seen a lot of chatter in the ecosystem, with many a conversation on how good or bad this move has been.

L to R: Binny Bansal, Nitin Seth, Kalyan Krishnamoorhty
L to R: Binny Bansal, Nitin Seth, Kalyan Krishnamurthy

“Things have not been working for Flipkart since 2015 and the board was running out of patience," a veteran consultant told YourStory on condition on anonymity. The newly formed Group Org will focus on creating future value through a portfolio of new, high-growth businesses, manage capital allocation across group companies, and ensure each business has a strong CEO in place.

To evaluate these opportunities and construct this portfolio of new businesses, Flipkart Group Org will have a Group Strategy function as well as M&A.

Image credit: Aditya Ranade
Image credit: Aditya Ranade


Report an issue
Add to
Shares
11
Comments
Share This
Add to
Shares
11
Comments
Share
Authors

Related Tags