“…So, we’re not really getting hung up on the valuation in the short term. Over time, I think everybody will understand just how valuable that business in India is, whether it’s the Flipkart portion or the PhonePe portion,” Douglas McMillon, president, chief executive officer and director, Walmart, Inc
Now that we are a month into 2021 and the initial shock of the Covid-19 pandemic has worn off, public markets are buzzing and businesses seem to be entering one of the much-desired boom periods. Even in 2020, in the midst of a global shutdown and an unprecedented economic slide triggered by the coronavirus crisis, the likes of Airbnb and DoorDash had seen the biggest and the buzziest IPOs come off. Buoyed by the global outcomes, startups in India do not want to sit on the sidelines and miss out on the public market cash and valuations.
More than half a dozen tech startups and consumer-facing internet companies such as Zomato, Nykaa, PolicyBazaar, Delhivery, MobiKwik, Freshworks and Flipkart are looking to get listed later this year, an endorsement and trust transition from private investors to the open market. But out of all the startups scrambling to go public, all eyes are bound to be on Flipkart, the Walmart-owned e-commerce behemoth.