Not IPO, driving e-commerce growth in India is Prime Focus: Flipkart
An initial public offering (IPO) is a long-term strategy, but our prime focus is getting 200-300 million new Indians into the e-commerce space, said India's leading e-commerce portal Flipkart (owned by Walmart).
The statement comes amid reports that Flipkart is looking at tapping into the US share market by 2022.
"An IPO has always been part of Flipkart's ambitions and long-term strategy but right now, we don't have a time frame on that. Flipkart is currently focused on driving the growth of e-commerce in India to get 200-300 million new customers into e-commerce fold," a Flipkart spokesperson said in an e-mailed statement.
Walmart Inc in May last year had announced that it is buying 77 percent stake in Flipkart for about USD 16 billion (Rs 1.05 lakh crore), its biggest deal which...