Myntra, a fashion portal owned by India’s largest online retailer Flipkart has acquired online merchandise retailer Jabong.
Sachin Bansal, Flipkart’s co-founder, confirmed the news by welcoming Jabong India to the Flipkart family in a tweet.
Welcome @JabongIndia to the @Flipkart family. We’ll create history together.
— Sachin Bansal (@_sachinbansal) July 26, 2016
The talks of sale were fueled by reports that Jabong’s current owners AB Kinnevik and Rocket Internet were reluctant to pump in more money into Jabong.
According to Mint, Kinnevik was seeking a valuation of USD 100-150 million for Jabong.
After the deal, Jabong will become part of Myntra which in turn is owned by Flipkart.
Earlier there were speculations that Kishor Biyani-led Future Group is in talks to buy Jabong. Snapdeal was also said to be in the fray. быстрый займ на карту новосибирскзайм без отказа рфзайм онлайн на карту только по паспорту