Flipkart's Hedge Fund Boss Is Looking for $1.5 Billion
The Indian e-commerce giant's third CEO in a year needs the cash to fight off Amazon and Alibaba.
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No investor has more to lose from the potential implosion of Indian e-commerce company Flipkart than its biggest backer, New York's Tiger Global Management.
Last summer, with Flipkart Online Services Pvt losing ground to Amazon.com Inc., Tiger sent in former EBay executive Kalyan Krishnamurthy to help turn around India's most valuable internet startup. The two co-founders stood aside as Krishnamurthy took control of its biggest sale season, fired senior managers and set tough traffic and sales targets. After Flipkart narrowly outsold Amazon during the critical year-end shopping rush, he was named chief executive officer, the company's third in the span of a year.