Flipkart plans to halve monthly cashburn to $20 million, in preparation of fresh funding round

The suffering homegrown e-commerce startup, Flipkart, is finally rolling up its sleeves to devour fresh funding to keep itself competitive. It is also planning to cut its monthly expenses and tread along a lean path to shore up its reserves, reports ET. This will enable the company to maintain a firm control over its operations before it secures funds — obviously at a lower valuation.

According to sources aware of the development, Flipkart is looking to slash its monthly burn rate to...

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