Snapdeal 2.0 Gets Backing From Nexus Venture
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).
Earlier this week, Snapdeal had announced that it was terminating all strategic discussions to pursue a new plan of operations that it calls “Snapdeal 2.0”.
Nexus Venture Partners also has a seat on Snapdeal’s board that has representation from SoftBank (2 seats), Kalaari Capital and the two founders—Kunal Bahl and Rohit Bansal.
After the announcement by Snapdeal, there were reports that the decision h...