PhonePe. A Mint report says it is working towards an initial public offering (IPO) for Flipkart, at a valuation as high as $40 billion.
Earlier this year, in a funding round that was led by Walmart, Flipkart was valued at $24.9 billion.While the $40 billion valuation looks like a huge jump in a short period of time, note that share prices of some listed e-commerce firms in emerging markets have skyrocketed this year.
Shares of Indonesia-based Sea Ltd have risen by 300% compared to its pre-covid highs, while those of Argentina’s Mercadolibre Inc.