Snapdeal set to acquire Shopclues
New Delhi: Online e-commerce platform Snapdeal is in talks to acquire rival ShopClues in a deal likely to be pegged around $200-$250 million, according to sources.
Snapdeal has started the due-diligence process and is likely to take a call on the acquisition over the next few weeks, the sources close to the development said.
When contacted, a Snapdeal spokesperson declined to comment, while ShopClues said the company does not comment on market rumours.
The two e-commerce companies have engaged in such discussions in the past as well, but this is the first time that it has made it to the due-diligence phase.
The deal will be an all-stock deal and is expected to be valued between $200 and $250 million, the sources added.
ShopClues' investors, including Singapore’s sovereign w...