SoftBank Vision Fund’s former managing partner, Lydia Jett, is back on Flipkart’s board as an independent director, according to a report by Moneycontrol.
This marks Jett’s second stint at the Walmart-owned company’s board, after she represented SoftBank Vision Fund in 2017 when it was an investor in the ecommerce company. However, she left Flipkart’s board after US retailer Walmart acquired a majority stake in the company for $16 billion in 2018, marking its entry into the Indian retail market.
YourStory has reached out to Flipkart for a comment on this development and will update the story based on its response.
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According to the report quoting sources, Jett enjoys the confidence of parent company Walmart and Flipkart’s CEO Kalyan Krishnamurthy. She is said to have played a key role in Flipkart’s recent fundraises, the report added.
The company raised $950 million in its latest round, with Google pitching in $350 million and taking its valuation to $36 billion.
According to reports, in May this year Walmart told analysts that it was assessing the right time to launch Flipkart’s initial public offering.
Edited by Swetha Kannan
