Monday, November 25

Search Results for: snapdeal

Infibeam Cancels Snapdeal’s Unicommerce Acquisition

eInfibeam Avenues had announced that its up to Rs 120 crore-deal to acquire Unicommerce, a subsidiary of e-commerce platform Snapdeal, however, the deal has been terminated. “…we wish to inform you that the SPA has been terminated as the conditions precedent were not fulfilled within the stipulated time period,” Infibeam said in a regulatory filing. In May, Infibeam Avenues had announced signing […]

Snapdeal CEO Jason Kothari Quits, Joins Infibeam as President

Jason Kothari the former chief executive of Snapdeal is joining Ahmedabad-based online e-commerce platform Infibeam as President. In the sudden move, Kothari will now hold company’s lead strategy, corporate development, international operations, and investor relations process. According to the press release, the company said, Kothari will help drive infibeam next phase of growth with the leadership […]

Foxconn Unit Put Downs Another $40 Mn Investment In Snapdeal

While foreign investments have been raining in Indian e-commerce marketplace, Foxconn Technology Group has announced another write off of an additional $40 million of its $200 million in e-commerce company Snapdeal. Earlier in August 2017, FIH Mobile had written in its annual report that its entire $200 million investment in Jasper Infotech ( Snapdeal owner and […]

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

Infibeam Incorporation Ltd, parent company of the country’s only listed e-commerce will acquire 100% stakes in the tech solutions company of Snapdeal, Unicommerce. Infibeam released a statement stipulating that in reached an agreement with Snapdeal’s parent company, Jasper Infotech Pvt. Ltd to acquire Unicommerce for the sum of Rs 120 crore. Snapdeal reported a 75% […]

Bewakoof.com Raises Fresh 5.55 Crore Funding From Snapdeal Founders

Mumbai based fashion and lifestyle platform Bewakoof.com have raised fresh funding of ₹5.55 Cr from existing investors including Kunal Bahl, Rohit Bansal, Nikhil Vora (Founder, Sixth Sense Ventures), and Uniqorn Ventures in what appears to be a seed round. Earlier in 2015, the Snapdeal founders also invested an unknown seed amount in bewakoof.com. The Snapdeal founders […]

Kalaari Capital Planning Snapdeal Exit and Selling Stakes

Kalaari Capital, the venture capital and investor in Snapdeal, held talk with the company’s promoters about selling part or the totality of its stake in the e-commerce on the online market. According to anonymous sources, the discussions are still at an early stage and there are yet no guarantee that the request will be granted. […]

Future Group Buys Snapdeal’s logistics Service Vulcan Express For Rs 35 Crore

Kishore Biyani’s Future Supply Chain Solutions today said it will fully acquire Snapdeal’s logistics service provider Vulcan Express Pvt Ltd in an all- cash deal valued at Rs 35 crore. Future Group Founder and Chairman Kishore Biyani said in a statement that through Vulcan, the company plans to boost its last mile capabilities and also […]

Days After Snapdeal CFO’s Exit, CTO Rajiv Mangla Resigns

Merely two weeks after Snapdeal CFO Anup Vikal’s exit, its Chief Technical Officer Rajiv Mangla quits the online retailer, a company spokesperson confirmed on Saturday. Rajiv Mangla is said to have resigned from his post on Friday, October 27; and will be  transiting out of his role by 15 December. “Rajiv has played a key role […]

Amazon, Flipkart, Snapdeal Accused of Violation of FDI Norms

Confederation of All India Traders (CAIT), leading advocate for small traders and businesses in India, with around 6 crore merchants across 40000 affiliates, urged the government to take action against e-commerce firms like Amazon and Flipkart, accusing them of violation of FDI norms by undertaking retail trading activities.