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Flipkart sticks to 'strong traction' line after massive devaluation
Flipkart is going with its message of strong business momentum and innovating for the customer in the face of a massive markdown by Morgan Stanley. The ecommerce company, once thought to be worth $15 billion, is now only worth $6 billion, according to a Morgan Stanley fund. The company, however, is putting up a brave front, saying market valuations aren't all that important. During the first few days of India's biggest shopping season, Flipkart beat Amazon in number of units sold.
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