Flipkart’s Summer Of Discontent

Flipkart’s senior exits and ESOP liquidity concerns are adding to its IPO uncertainty as Walmart pushes for profitability while the ecommerce giant continues investing in quick commerce and food delivery.

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Questions over an IPO and ESOPs, huge investments in quick commerce and food delivery and the pressure to deliver profits: Flipkart is juggling one too many hot potatoes for the past year. 

In that time, the ecommerce giant has seen 14 senior level exits, including three more VPs who are set to leave the company next. 

The latest executives to leave are Kanchan Mishra, VP of smartphones; Amit Sachan, VP of product and tech; and Kamal Chopra, VP of corporate, as Moneycontrol reported. While Mishra spent more than a decade at Flipkart, Sachan and Chopra have been with the company for four and five years, respectively. 

As their tenure shows these are not employees who had just joined the company one or two years ago in the wake of all the IPO talk. These were executives who had seen much of the restructuring at Flipkart in the post-pandemic years.   

Plus, these departures come at a time when the company’s employees have raised concerns over ESOP liquidity and the company’s long-awaited IPO remains without a firm timeline. It has coloured these exits with a darker tint as a result. 

Walmart has reportedly asked the company to prioritise profitability before going public,........

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