Flipkart valuation slashed to $7.9 billion
E-commerce giant Flipkart's valuation has been marked down to $7.9 billion by mutual fund investor Valic in its latest quarterly report. Flipkart was earlier valued at $11.6 billion after it raised a reported amount of $2.5 billion from SoftBank Vision Fund in August. In the previous quarter, Valic had valued Flipkart at around $8.5 billion.