Flipkart ups IPO valuation target to $60 bn, eyes 2023 US listing: Report

Walmart's Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a U.S. listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters.

Flipkart, which competes with Amazon.com Inc in India's booming e-commerce space, had earlier set an IPO valuation goal of $50 billion, Reuters has reported.

The main reason for waiting for the IPO is due to Flipkart's internal plan to boost valuations further by focussing on two of its relatively new businesses -- online healthcare services and travel bookings, two of the