Flipkart's markdown heralds 'market detox'
Fundraising party winding down after two years of funding boom as investors vied for a piece of India's mobile-fuelled economy
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Bengaluru
CASH-HUNGRY Indian startups like Flipkart are discovering that the fundraising party is winding down.
The domestic e-commerce leader became one of the most prominent Asian startups to have its valuation slashed by a high-profile investor. Sending ripples through the industry, a Morgan Stanley fund marked down its value by more than a quarter to US$11 billion - less than a year after financing clinched a US$15 billion valuation.
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