After shaking up his leadership structure and setting aggressive sales targets, Mr. Krishnamurthy has accepted a $16 billion investment from Walmart to help Flipkart establish an advantage over competitors in India’s burgeoning e-commerce market.
“His relentless focus and his aggressive execution changed Flipkart’s fortunes,” Anil Kumar, CEO of RedSeer Consulting, told The Seattle Times. “He brought the edge that Flipkart was missing.”
Amazon invested over $5 billion in the Indian market, but Mr. Krishnamurthy has attempted to leverage his intimate knowledge of the customer base to create an experience better tailored to the needs of the market.
The Walmart investment not only gives Flipkart the capital it requires to be a market leader, but helps Walmart shore up flagging international operations.
More articles on business:
Unemployment rate drops to 3.9%, lowest rate since April 2000
Cambridge Analytica halts operations following Facebook data controversy: 7 notes
Elon Musk’s earnings call comments cost Tesla $2B in market cap
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.