News
Snapdeal favours India e-commerce curbs
Even as India’s new e-commerce curbs sting global giants Amazon.com Inc and Walmart-owned Flipkart, their local rival Snapdeal is cheering the move. Read more…
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The only likely winner in India’s e-commerce sector is now Amazon
Last week, Snapdeal ended merger discussions with Flipkart in a move that, I think, snuffs out the one chance the local players had to keep Amazon at bay. At the same time, Softbank is now Read more…
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Setback for SoftBank as Snapdeal spurns Flipkart merger plan
MUMBAI/BENGALURU (Reuters) – India’s Snapdeal said it had decided to remain independent and was ending all talks regarding a sale, bringing the curtain down on months of discussions around a possible acquisition of the e-commerce Read more…
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Snapdeal board says no to Flipkart buyout offer: report
MUMBAI (Reuters) – The board of Indian online marketplace Snapdeal has rejected a bid worth $700-$800 million from Flipkart after due diligence by its bigger rival, Mint newspaper reported on Tuesday. Japan’s SoftBank Group, Snapdeal’s Read more…
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Snapdeal accuses former Quickdel directors and managers of fraud
NEW DELHI (Reuters) – Snapdeal has filed a police complaint against some former directors and former management of a local logistics company, in which it owns a stake, accusing them of defrauding the company of Read more…
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Consolidation of Indian e-commerce market is creeping ever closer
The probability of consolidation in Indian e-commerce is creeping ever closer as Softbank, is pushing for the sale of Snapdeal to Flipkart at a valuation considerably less than the $6.5bn at which the company last Read more…
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Indian online retailer Snapdeal looks to Japan’s Softbank for funding
MUMBAI (Reuters) – Indian online retailer Snapdeal is looking to raise just over $100 million from existing shareholders including Japan’s SoftBank and new investors, its chief financial officer said. The company, which last year lost Read more…