Still, a sale at a valuation of more than $20 billion will be a stunning turnaround for a company that was written off less than 18 months ago in its fight with Amazon’s India arm. Through 2016, Flipkart’s own investors had marked down its valuation as losses at the company soared and it lost market share to Amazon. But after Flipkart brought back Kalyan Krishnamurthy, the company turned around its business, starting with the flagship Big Billion Day sale in October 2016. Krishnamurthy was installed at Flipkart by Tiger Global Management, Flipkart’s most influential investor, in June 2016 and later made CEO in January 2017.