NEW DELHI: Founders Kunal Bahl and Rohit Bansal will relinquish control of online marketplace Snapdeal to market leader Flipkart as early investors in the Delhi-based company give their consent to the sale, according to four people aware of the deal. The transaction, if successful, will redefine India’s online retail industry, and sharpen the battle lines…
Tag: aquisition
Flipkart buys Jabong for $70 million
Flipkart-owned Myntra has agreed to acquire main competitor Jabong from Global Fashion Group for $70 million (Rs 470 crore) in cash to create India’s biggest fashion e-tailer, ending months of speculation and outbidding several potential suitors including Snapdeal. The deal will consolidate Flipkart’s position in the Indian e-commerce market and enable Jabong’s German backer Rocket…
sugandhad.com 