While the startup ecosystem is rejoicing at Walmart’s $16 Bn boost to Flipkart, CEO Kalyan Krishnamurthy has his eyes firmly focused on ensuring that his team continues delivering to take on the competition.
Two days after Walmart’s $16-billion acquisition of Flipkart was announced, Kalyan Krishnamurthy addressed thousands of Flipkart employees in town hall sessions at the company’s new headquarters in Bengaluru stating, “We now have to work harder, let’s not slack off.”
“Let’s not get this to our heads and (let’s) continue delivering,” Kalyan told Flipsters.
He added that the focus categories for 2019 include gemstones and jewellry. For this year, the next leg of growth is expected to come from the grocery business.
Walmart’s acquisition of Flipkart is one of the world’s biggest ecommerce deals. Now with Walmart as an investor, Flipkart will be able to leverage the US giant’s grocery and general merchandise supply-chain knowledge to build this category, something which Flipkart has piloted in Bengaluru but has not been able to scale up significantly.
While Walmart’s expertise will provide Flipkart the backend support to crack this business, Flipkart will require its best talent to put its best foot forward as it competes with the likes of BigBasket, Grofers and Amazon’s grocery business. This is where Flipkart’s ESOP pool of $500 Mn will prove handy.