Flipkart’s ongoing expansion beyond major cities and heavy discounting is raising risks for India’s quick commerce startups, analysts say.
Flipkart’s headquarters shift comes as the Walmart-backed e-commerce giant reaches about $30 billion in GMV.
Shadowfax shares fell about 9% on theirdebut, valuing the logistics firm near its last private valuation.
Tiger Global and Microsoft are offering up their full stakes in the company, while Walmart is choosing to retain its majority stake, and selling up to 45.9 million shares.
Tiger Global’s case in India is being closely watched by investors.