Flipkart Has “Overpaid Underperforming Crybabies”: Mahesh Murthy

The investor calls out the e-commerce giant for their massive salaries

Mahesh Murthy, an investor, venture capitalist, and co-founder of Seedfund has dubbed e-commerce giant Flipkart executives as “Overpaid underperforming crybabies”. He even shared a sheet comparing the remuneration of top Flipkart and Amazon CEOs. Mekin Maheshwari, Flipkart’s 36-year-old Chief People Officer with eight years of experience had a whopping remuneration of INR 35.3 crores. In comparison, Amazon India’s HR director for India and China, Stephen Walter, earns a paltry INR 4.29 crores with 32 years of experience.

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Flipkart and Ola are seeking government protection against global giants Amazon and Uber. They ask that the government get foreign capital in India, but restrict foreign consumer internet companies from setting up shop. In June last year, Amazon increased its investment to five billion dollars in India. Bansal and Aggarwal say that these global firms are burning money to capture market share without adding any value to the Indian ecosystem. In contrast, they say, their firms are generating jobs in the country.

Flipkart, ironically, has used funds from global investors to subsidise their products and drive out smaller players in the market.

And for the final gong, Murthy calls out Flipkart for being a Singaporean company! Flipkart was registered in Singapore in 2008 where the tax rate on corporate profits is 17 percent compared to India’s 33 percent.