Former SoftBank Partner Lydia Jett Joins Flipkart Board

Lydia Jett, former managing partner of SoftBank, has joined Flipkart’s board, according to regulatory filings by the company in Singapore.

Jett joined the board of this large e-commerce company as an independent member. This is her second stint on the board of the Walmart-owned company. In 2017, she represented SoftBank Vision Fund.

However, she left Flipkart’s board after US retailer Walmart acquired a majority stake in the company for $16 billion in 2018, marking its entry into the Indian retail market.

In 2018, Softbank sold its nearly 20% stake in Flipkart to eventual owner Walmart. He returned to Flipkart’s board when he co-led a $3.6 billion financing in 2021.

Known for her expertise in retail and consumer internet, Jett has made several investments in the e-commerce space, including backing South Korean e-commerce giant Coupang, Gopuff, Indonesia’s Tokopedia, and others.

Jett also serves on the board of other e-commerce companies, including Russia’s Ozon and South Korea’s Coupang, and is an investor in several startups.

The appointment comes as the e-commerce specialist prepares to enter the fast-paced trading market.

With Jett’s appointment, Flipkart has strengthened its board in preparation for its IPO. Flipkart CEO Kalyan Krishnamurthy, HDFC’s Keki Mistry and other Walmart executives.

Flipkart, meanwhile, is working toward profitability amid a senior management shake-up and cost-cutting amid layoffs earlier this year. The e-commerce giant raised $350 million from Google and closed a $950 million funding round at a $36 billion valuation, the business line said in May.

• Also read: SoftBank likely to exit Paytm this month