Co-founder and CEO of online travel agency MakeMyTrip, Rajesh Magow has rejoined the board of India’s largest ecommerce firm Flipkart, two years after giving up his seat on board, reported Mint.
Indian ecommerce giant Flipkart has raised a record breaking funding of at least $2.5 billion from SoftBank Vision Fund, making its rival Amazon a huge blow and claiming its dominance in the market. The latest round of funding takes Flipkart’s cash reserves to more than $4 billion. Although, Flipkart didn’t disclose the amount, but said […]
SoftBank Vision Fund is in talks with India’s Flipkart Online Services Pvt. Ltd to invest $1.5 billion to $2 billion, according to a latest report by Reuters.
E-commerce major Flipkart today said it has completed the merger with eBay Indias operations. With this, eBay.in will now be a Flipkart Group company. The deal was announced in April when the Flipkart group raised USD 1.4 billion from global technology majors eBay, Tencent and Microsoft.
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 […]
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 […]
In a first such kind of incident, Flipkart delivery centre in Shahdara’s Jhilmil industrial area was attacked by Four masked men looted ₹37 lakh from the office of Instakart, a delivery station of e-commerce giant. The workers reportedly told the police that four men armed with guns entered the premises and asked them to part […]