Ecommerce

Lydia Jett Rejoins Flipkart’s Board as Independent Director

• ByStartupStory     |    July 1, 2024

Lydia Jett, former managing partner at SoftBank Vision Fund, has rejoined Flipkart’s board as an independent director, according to a report by Moneycontrol. This marks Jett’s second tenure with the Walmart-owned company, having previously represented SoftBank Vision Fund on Flipkart’s board in 2017.

Jett initially left Flipkart’s board following Walmart’s acquisition of a majority stake in the Indian e-commerce giant for $16 billion in 2018, a move that signaled the US retailer’s significant entry into the Indian market.

Sources quoted by Moneycontrol revealed that Jett enjoys strong confidence from both parent company Walmart and Flipkart’s CEO Kalyan Krishnamurthy. The report highlighted her instrumental role in Flipkart’s recent fundraising activities. The company raised $950 million in its latest funding round, with Google contributing $350 million, bringing Flipkart’s valuation to an impressive $36 billion.

In a move that could signal future growth and expansion, Walmart recently informed analysts that it is evaluating the optimal timing for Flipkart’s initial public offering (IPO).

Jett’s return is expected to fortify Flipkart’s strategic direction as it continues to dominate the Indian e-commerce landscape.

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