Flipkart’s valuation through the years

India’s largest online retailer and most valued internet company Flipkart has seen two mutual funds — Morgan Stanley and Vanguard — mark down its valuation further this week. A Morgan Stanley mutual fund is now valuing the company at $5.6 billion, which is nearly a third of $15.2 billion it got when the Bengaluru-based company last raised funding in July 2015. Flipkart said that its valuation will be determined when it raises a new funding round, and not by mutual fund mark downs. ET tracks Flipkart’s valuation through the years: