Former SoftBank managing partner Lydia Jett rejoins Flipkart’s board
This marks Jett's second stint at the Walmart-owned company’s board, after she represented SoftBank Vision Fund in 2017 when it was an investor in the ecommerce company.
SoftBank Vision Fund’s former managing partner, Lydia Jett, has joined Flipkart’s board of directors, effective June 26th.
MoneyControl was the first to report on this.
This marks Jett's second stint at the Walmart-owned company’s board after she represented SoftBank Vision Fund in 2017 when it was an investor in the ecommerce company. However, she left Flipkart’s board after US retailer Walmart acquired a majority stake in the company for $16 billion in 2018, marking its entry into the Indian retail market.
“I am pleased to join the Board and look forward to working with the other Board members to help the company navigate its next growth phase. The ecommerce market in India is rapidly growing and promises great opportunities for continued innovation and value“, Jett said.
According to the Moneycontrol report citing sources, Jett enjoys the confidence of parent company Walmart and Flipkart's CEO Kalyan Krishnamurthy.
“We are delighted to have Lydia join the Flipkart Board. Her extensive global experience and understanding of the consumer internet and e-commerce industry will add significant value to the Flipkart Group as we focus on creating a positive impact for customers and growth opportunities for businesses, particularly MSMEs in India seeking to be part of the fast-evolving digital economy," said Krishnamurthy.
Flipkart raised $950 million in its latest round, with Google pitching in $350 million and taking its valuation to $36 billion.
According to reports, in May this year, Walmart told analysts that it was assessing the right time to launch Flipkart’s initial public offering.
(The copy has been updated with quotes and additional details from a news release.)
Edited by Swetha Kannan