- Venture Capital Firm Kalaari Capital Looks To Sell Stake In Snapdeal Venture capital firm Kalaari Capital, which was one of the early investors in Snapdeal, is looking to sell its stake in the ecommerce firm, as per two sources in the know. An ET report stated that the venture capital firm has held conversations with the company’s promoters to sell its stake, in entirety or partially. […]
- Sale In Distress: Snapdeal In talks To Offload Logistics Arm Vulcan Express, May Sale Off To AllCargo For $4.6 Mn Once again Snapdeal has started gaining media attention. Currently in the phase of building Snapdeal 2.0, as expected there is nothing positive so far for the Gurugram-based ecommerce firm. After the recent news of its CFO Anup Vikal leaving the firm and GoJavas sueing it for $45.8 Mn, now the company is said to be […]
- Snapdeal Employees Express Resentment Over Termination Of Merger With Flipkart, Write Letter To PMO, Other Authorities While the Snapdeal founders have announced their intention to work towards Snapdeal 2.0 after the merger deal with Flipkart fell through, apparently Snapdeal employees are not impressed with their founders’ commitment. Former and current employees of the Delhi-based company have anonymously floated a joint letter to co-founders, Kunal Bahl and Rohit Bansal, and also addressed […]
- Flipkart Avails $58.7 Mn Credit Line From Axis Bank To Maintain Steady Cashflow According to RoC filings, Axis Bank has extended about $58.7 Mn (INR 375 Cr) working capital credit line to Flipkart India Pvt. Ltd. The filings also show that the company had previously availed $101.7 Mn (INR 650 Cr) from Kotak Mahindra Bank, a loan that was increased to $128.3 Mn (INR 820 Cr). It had […]
- SoftBank Still ‘Engaged’ With Flipkart: SoftBank CEO Masayoshi Son SoftBank founder Masayoshi Son has said that the Tokyo-headquartered conglomerate is currently “engaged“ with homegrown ecommerce firm Flipkart. The comment comes at a time when the buzz about Snapdeal Flipkart deal fallout has settled a little. The much sought-after consolidation of two ecommerce giants Snapdeal and Flipkart did not come through. For months the industry […]
- Why Did Flipkart Walk Away From Unicommerce Given that the biggest dramatic event of Indian startup history unfolded with Snapdeal and Flipkart locked into a now-yes-now-no game of wooing before reaching its conclusion, I feel it made sense to share some perspectives on one important part of the deal which was on the table. I have been an investor in Primaseller, which started […]
- SoftBank May Fuel Up Flipkart With Massive $2 Bn Funding SoftBank has given an indication to continue on its plans to invest in ecommerce firm Flipkart. Reportedly, the Japanese conglomerate will do the investment through its $100 Bn Vision Fund. The investment talks first began when SoftBank started pushing in for Snapdeal Flipkart merger deal earlier this year. With this funding, SoftBank is reportedly eyeing […]
- Snapdeal Idea Of Going ‘Independent’ To Hit Employees Hard, Over 80% To Be Handed Pink Slips The Snapdeal founders have decided to give pink slips to about 80% of their employees. The news surfaced soon after the Snapdeal founders backed out from the merger deal with Flipkart. As per media reports, the company management has given “verbal instructions to their department heads to prepare the list” of employees to be laid […]
- It’s A No Deal: Snapdeal-Flipkart Merger Falls Through, Snapdeal To Follow An Independent Path The Flipkart-Snapdeal merger, which had dominated headlines since the last couple of months, has fallen apart. The merger, which would have been the biggest consolidation in Indian ecommerce history, has been called off despite investor SoftBank’s unrelenting efforts to push it through. A Snapdeal spokesperson stated, “Snapdeal has been exploring strategic options over the past […]
- Snapdeal Flipkart Merger Deal In Jeopardy Due To Lack Of Consensus From Minority Shareholders The Snapdeal Flipkart merger, after six months of hard negotiations, is in danger of falling apart. While the Snapdeal founders seem reluctant, the company board is looking for ‘opinions’ from minority shareholders. Reportedly, the meeting between representatives of both the companies, due to take place on Monday (today) and Tuesday, has been called off. As […]
- Indian Startup Funding Of The Week [Funding Galore 24-29 July] We bring you the latest edition of Funding Galore: Indian Startup Funding of the week. This week, 10 Indian startups raised about $83 Mn in funding altogether and three startup acquisitions took place in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts.) One of the […]
- Temasek, Ratan Tata Give Green Signal To Snapdeal Flipkart Merger The Snapdeal Flipkart merger has reportedly received an in-principal approval from a consortium of Snapdeal investors. The investors who have given the nod for the merger include Ratan Tata, Temasek, BlackRock, and Foxconn. Ratan Tata had led an undisclosed venture financing round in Snapdeal in August 2014. Temasek, on the other hand, had participated in […]