Flipkart cuts employees' ESOP rates post lower valuation
Flipkart has announced that it will give stock options to eligible employees at lower prices to compensate for the drop in valuation at its latest round of fundraising. The e-commerce startup announced a $1.4 billion investment from Tencent, eBay, and Microsoft earlier this week at a valuation of $11.6 billion. In 2015, Flipkart achieved peak valuation of about $15 billion.