The Madhya Pradesh Tiger Strike Force has served notice to e-commerce firms Snapdeal, IndiaMART, Wish and Buy and Craft Comparison for allegedly selling wildlife products on their websites.
Nexus Venture Partners, an early investor in Snapdeal, has come out in support of the e- commerce firm’s decision to pursue “Snapdeal 2.0” instead of accepting rival Flipkart’s $900-950 million acquisition offer. Nexus Venture Partners is the second investor to come out in support of Snapdeal’s decision, after Kenneth Glass (an early investor in Snapdeal). […]
Jasper Infotech Pvt Ltd owned online marketplace Snapdeal has walked away from talks to sell itself to Flipkart and now looks to try and survive as an independent entity. The online marketplace will try and survive by selling assets and cutting operational costs.
Talks for the proposed acquisition of the beleaguered Snapdeal by larger rival Flipkart seem to have broken down after almost six months of negotiations, with the fate of the deal likely to be decided by the end of the day, according to company sources.
Snapdeal will seek views of its shareholders, including Ratan Tata and PremjiInvest, on the proposed USD 900-950 million buyout deal by Flipkart, a source said. The deal is almost through but there are a few areas of concern and the Board wants to seek views and comments from shareholders on the deal, two people aware […]
India’s third largest private sector lender Axis Bank Ltd is all set to buy digital payments platform Freecharge from Snapdeal for amount nearing Rs 400 Cr, a much needed relief for Snapdeal. This payments platform has been seeking a suitable buyer since long, even as its parent company negotiates the terms for its own sale. […]
The Board of Snapdeal has accepted the Flipkart’s revised takeover offer of about $950 millions last week, two sources who remain anonymous told. Shareholders of Snapdeal will now have to approve the deal, the sources told Reuters, declining to be named as the discussions are not public. ALSO READ: Snapdeal Divided Between Infibeam Buyout And […]
Recently Snapdeal struggles between the decisions of its co-founders and its largest investor SoftBank Group Corp., where the former are pushing for sale to the only Indian public listed e-commerce Infibeam Inc. or stay independent while the latter wants its sale to bigger rival Flipkart, reported Mint.
After Snapdeal board reportedly rejected Flipkart’s USD 850 million takeover offer, the two parties are now holding parleys over the USD 150-200 million valuation gap. According to sources privy to the development, Flipkart had initially offered USD 1 billion for the deal but post the due diligence, it made an offer for USD 800-850 million. […]
Snapdeal board is believed to have rejected a takeover offer of USD 800-850 million (around Rs 5,500 crore) from larger e-commerce rival Flipkart. According to sources privy to the development, Flipkart has completed the due diligence process and has made an offer of USD 800-850 million to buy Snapdeal. However, the offer was rejected by […]
Investment bank Credit Suisse is reaching out to minority shareholders of Snapdeal to build a consensus on the sale of the e-commerce platform to larger rival, Flipkart. According to sources, Credit Suisse, which is advising Snapdeal on the proposed deal, is reaching out to smaller shareholders to get them on board for the acquisition. The […]
Snapdeal continues to lose members from top leadership, the latest to join the list being its Human Resources Head Saurabh Nigam. Nigams exit comes amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. A Snapdeal spokesperson confirmed the development. “After spearheading Snapdeals Human Capital function for more than three years, […]