Lydia Jett, a former managing partner at SoftBank, has rejoined Flipkart’s board as an independent director, according to recent regulatory filings in Singapore. This marks her second tenure on the board of the ecommerce giant.
“I am pleased to join the Flipkart Board and look forward to working with the other Board members to help the company navigate its next growth phase. The e-commerce market in India is rapidly growing and promises great opportunity for continued innovation and value,” Jett said in a statement via Flipkart.
Jett initially joined Flipkart’s board in 2017 as a representative of SoftBank following her stint on then-rival Snapdeal’s board. She exited Flipkart’s board after stepping down from her role at SoftBank in February this year.
Flipkart Group Chief Executive Kalyan Krishnamurthy welcomed Jett’s return, stating, “Her extensive global experience and understanding of the consumer internet and e-commerce industry will add significant value to the Flipkart Group as we focus on providing value for customers and growth opportunities for businesses.”
During her time at SoftBank, Jett led the ecommerce and consumer internet mandates. In 2018, SoftBank sold its near-20% stake in Flipkart to eventual owner Walmart but returned to Flipkart’s captable by co-leading a $3.6 billion funding round in 2021.
Jett also holds board positions with other ecommerce firms, including Russia’s Ozon and South Korea’s Coupang, and is an investor in several startups.
She will join other notable members on Flipkart’s board, including Flipkart Group Chief Executive Kalyan Krishnamurthy, HDFC Chief Executive Keki Mistry, and several senior Walmart executives.
In January, Flipkart co-founder Binny Bansal stepped down from the board, marking the exit of the last founding member following Sachin Bansal’s departure in 2018. Binny Bansal’s departure coincided with his plans to launch his ecommerce software services platform, OppDoor.
Meanwhile, Flipkart is working towards profitability amid senior management restructuring and cost-cutting measures, including layoffs earlier this year.
Last month, it was reported that Flipkart had closed a funding round of approximately $1 billion, including $350 million from Alphabet’s Google, at a $35-36 billion valuation. The company has been expanding and accelerating its delivery services across India and is set to launch its own quick-commerce service next month.
Senior executives at Flipkart’s parent company, Walmart, have hinted at evaluating an initial public offering for the Indian firm, further underscoring its growth trajectory and market potential.
