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: Flipkart
Snapdeal – Flipkart Unfolds: Snapdeal’s lead attorney Ashish Chandra quits as merger nears conclusion
Investors drive decisions on a merger with Flipkart, even as Snapdeal has hired Amarchand Mangaldas to lead the negotiations for the deal, expected to be concluded this month. Ashish Chandra who was serving as the general counsel of the Softbank-backed e-commerce firm Snapdeal since 2014 has quit the company as investors are driving decisions on…
Why is Flipkart still looking for investors, as their founders are billionaires, now? They can help themselves.
Brilliant question. I almost fell for it! But hey, they are actually the ones funding Flipkart now. If one actually thinks that Bansals have billions worth of cash sitting in the bank and why don’t they help themselves then the premise is wrong. They have the stake on papers and only when they sell that…
Flipkart needs some patient, permanent capital
The markdowns are flowing thick and fast for Flipkart. There’s a lot of noise out there painting a picture of doom and gloom. But should valuations cause so much consternation? Isn’t there a larger story waiting to be told? In the last few days I trawled through old reports, news stories and information available in…
Morgan Stanley yet again slashes the value of Flipkart!
Flipkart’s valuation took another beating as a mutual fund managed by Morgan Stanley slashed the value of its Flipkart shares by 38.2%. The recent markdown pegged its valuation at $5.54 Bn. According to an ET report, Morgan Stanley, as of September 2016, has marked the value of its Flipkart shares at $52.13 per share, as…
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…
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