Slide 1

Mahesh Murthy, co-founder of Seedfund which has investments in a few e-com firms and a known critic of Flipkart:This is not real M&A. At its heart, the Flipkart-Myntra deal seems like an internal accounting transfer between two majority-owned subsidiaries of the same owners: the funds Tiger and Accel. So it's not really a positive sign. In fact it is probably a portent of how bad things are, if a fund has had to force five of its investees: Chakpak, Sher Singh, LetsBuy, Myntra and Flipkart to merge into one remaining company. While this may be good for investors, it might not be so good for the entrepreneurs and staff of these companies.