Former Softbank Managing Partner Lydia Jett Rejoins Flipkart Board

Former Softbank Investment Advisers managing partner Lydia Jett has rejoined Flipkart’s board, the e-commerce giant said on Monday. Jett served on Flipkart’s board in 2017 but resigned after about a year.

“Flipkart Group… announced the appointment of Lydia Jett, a seasoned investment executive and former Managing Partner at SoftBank Investment Advisers, as a member of its board of directors, effective June 26, 2024,” the e-commerce firm said in a statement.

Jett, an American venture capitalist, has two decades of experience investing in and serving on the boards of leading consumer technology companies. “I look forward to working with my fellow board members to help the company navigate its next phase of growth. The e-commerce market in India is growing rapidly and promises great opportunities for continued innovation and value,” said Jett.

As Founder and Managing Partner of Softbank Investment Advisors (SBIA), Jett led the global consumer internet and e-commerce sectors and served as an independent board member on the boards of Coupang, Ozon, and Fanatics.

“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 creating positive customer impact and growth opportunities for businesses,” said Flipkart Group Board Member and CEO Kalyan Krishnamurthy.

Read: Flipkart sellers unable to adjust prices after commission rate change: Report

Recently, there were reports that Flipkart was preventing sellers from changing the prices of items on its platform. According to Moneycontrol, Flipkart was accused by multiple sellers of actually breaking rules regarding foreign direct investment (FDI) on e-commerce platforms. Sellers also claimed that Flipkart’s action was anti-competitive as it hurt smaller sellers more while allowing larger competitors to operate more freely.

Following the incident, it was reported that Flipkart now allows sellers to change the prices of their products, as per a report by Moneycontrol. A Flipkart spokesperson told Moneycontrol, “As a marketplace, we strive to democratize access to resources by ensuring all sellers have access to our robust seller support system, designed to provide the assistance they need.

(With tips from PTI)