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Flipkart has inducted former senior Meta executive Dan Neary to its board of directors, as the Walmart-controlled ecommerce major intensifies efforts towards a long-planned public listing. Neary left Meta after more than a decade of leading the company’s growth across the Asia-Pacific region.
He had helmed Meta's (then Facebook) expansion across Australia, greater China, southeast Asia, and other markets.
Neary’s appointment comes at a crucial time for India’s largest private internet company, which is going into the next year with preparations for a public market listing.
“Flipkart’s scale, innovation mindset, and technology leadership are unmatched, but what stands out most is the strength and integrity of its leadership team. I look forward to supporting Flipkart as it continues its next phase of growth and impact, Dan Neary said in a prepared statement.
Kalyan Krishnamurthy, CEO of Flipkart group, said, “ His ( Neary’s) global experience across technology, digital commerce, and platform scale will be invaluable. With AI transforming every layer of retail, Dan’s perspective and leadership will help accelerate our innovation agenda.
On the Flipkart board, Dan Neary joins Kathryn McLay, president and CEO, Walmart International, Suresh Kumar, global CTO, Walmart, and Dan Bartlett, executive VP, corporate affairs, Walmart. The others on the board are Keki Mistry, former HDFC CEO, Lydia Jett, former Managing Partner, SoftBank Investment Advisers, Tencent's chief strategy officer James Mitchell, former Deloitte Singapore chairman Chaly Mah, and Flipkart group’s Krishnamurthy.
Earlier in the year, the Flipkart board had approved the plan to shift the online retailer's domicile from Singapore to India in preparation for a domestic listing. The Indian entity, Flipkart Internet, operates the company’s India marketplace. However, there are multiple entities that house the company’s other businesses such as payments, logistics, and its subsidiary Myntra.
The IPO of Flipkart's younger competitor Meesho, which caters to the value-focussed shopper, opened on Wednesday. The Bengaluru-based e-tailer is going public with a Rs 5,421-crore offering, valuing the company at Rs 51,535 crore on a post-money basis. It is raising Rs 4,250 crore in fresh capital from the IPO.
ET reported on September 29 that Flipkart group entities narrowed losses in FY25 as it cut back on expenses, although revenue growth was muted amid a slowdown in overall online retail. Financial statements of Flipkart group entities sourced from the Registrar of Companies showed that losses for Flipkart Internet, its in-house logistics arm Ekart, and online travel portal Cleartrip narrowed 2-36% on-year. Myntra, the Flipkart-owned fashion and beauty etailer, saw its profits jump almost 18-fold during FY25.
At Rs 20,493 crore, Flipkart Internet posted a 14% increase in revenue in 2024-25, while net losses fell 37% to Rs 1,494 crore.
He had helmed Meta's (then Facebook) expansion across Australia, greater China, southeast Asia, and other markets.
Neary’s appointment comes at a crucial time for India’s largest private internet company, which is going into the next year with preparations for a public market listing.
“Flipkart’s scale, innovation mindset, and technology leadership are unmatched, but what stands out most is the strength and integrity of its leadership team. I look forward to supporting Flipkart as it continues its next phase of growth and impact, Dan Neary said in a prepared statement.
Kalyan Krishnamurthy, CEO of Flipkart group, said, “ His ( Neary’s) global experience across technology, digital commerce, and platform scale will be invaluable. With AI transforming every layer of retail, Dan’s perspective and leadership will help accelerate our innovation agenda.
On the Flipkart board, Dan Neary joins Kathryn McLay, president and CEO, Walmart International, Suresh Kumar, global CTO, Walmart, and Dan Bartlett, executive VP, corporate affairs, Walmart. The others on the board are Keki Mistry, former HDFC CEO, Lydia Jett, former Managing Partner, SoftBank Investment Advisers, Tencent's chief strategy officer James Mitchell, former Deloitte Singapore chairman Chaly Mah, and Flipkart group’s Krishnamurthy.
Earlier in the year, the Flipkart board had approved the plan to shift the online retailer's domicile from Singapore to India in preparation for a domestic listing. The Indian entity, Flipkart Internet, operates the company’s India marketplace. However, there are multiple entities that house the company’s other businesses such as payments, logistics, and its subsidiary Myntra.
The IPO of Flipkart's younger competitor Meesho, which caters to the value-focussed shopper, opened on Wednesday. The Bengaluru-based e-tailer is going public with a Rs 5,421-crore offering, valuing the company at Rs 51,535 crore on a post-money basis. It is raising Rs 4,250 crore in fresh capital from the IPO.
ET reported on September 29 that Flipkart group entities narrowed losses in FY25 as it cut back on expenses, although revenue growth was muted amid a slowdown in overall online retail. Financial statements of Flipkart group entities sourced from the Registrar of Companies showed that losses for Flipkart Internet, its in-house logistics arm Ekart, and online travel portal Cleartrip narrowed 2-36% on-year. Myntra, the Flipkart-owned fashion and beauty etailer, saw its profits jump almost 18-fold during FY25.
At Rs 20,493 crore, Flipkart Internet posted a 14% increase in revenue in 2024-25, while net losses fell 37% to Rs 1,494 crore.
