Snapdeal

New Delhi, Jul 18 () Online retailing major Flipkart is believed to have sent a revised offer of USD 900-950 million to buy smaller rival, Snapdeal, according to sources.

New Delhi, Aug 2 () Nexus Venture Partners (NVP), 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 USD 900-950 million acquisition offer.

E-commerce marketplace Snapdeal has acquired online recharge platform FreeCharge for an estimated $400 million (Rs 2,400 crore), making it one of the largest deals in the consumer internet space in India.

Taiwan's Foxconn and Chinese e-commerce giant Alibaba are investing about $200 million each in Snapdeal, while Softbank — the largest shareholder in Snapdeal — is infusing additional $100 million, sources said.

NEW DELHI: Snapdeal's board is believed to have rejected a takeover offer of $800-850 million (around Rs 5,500 crore) from larger e-commerce rival Flipkart.

E-commerce player Snapdeal has shelved its plan for IPO through which it was planning to issue fresh equity shares worth Rs 1,250 crore amid weak market conditions, the company has said. The company had earlier announced placing over 3 crore shares for an offer for sale under its IPO plan.

Snapdeal on Tuesday said Piramal Group executive director Anand Piramal has made an investment in the e-commerce company. The investment has been made by Piramal in his personal capacity, Snapdeal said in a statement. However, details of the investment and the valuation of Snapdeal post the transaction were not disclosed.

"Snapdeal has been exploring strategic options over the last several months. The company has now decided to pursue an independent path and is terminating all strategic discussions as a result," a Snapdeal spokesperson said in a statement, without naming Flipkart.

Online marketplace Snapdeal.com on Friday said it has acquired designer handcrafted items shopping website Shopo.in for an undisclosed price.

New Delhi, Jul 5 () After Snapdeal's board reportedly rejected Flipkart's USD 850 million takeover offer, the two parties are now holding parleys over the USD 150-200 million valuation gap.

New Delhi, Jul 4 () Snapdeal today announced its entry into online services segment like flight and bus ticket bookings, hotel reservations and food ordering, becoming the first e-commerce marketplace to introduce services.

SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty of a meltdown in tech stocks that has soured investor sentiment.

Public announcement on the fate of the one of the largest e-commerce deal, orchestrated by Snapdeal’s largest investor SoftBank, could be made today.

New Delhi, Jul 10 () Flipkart is expected to make a revised offer in the next few days for buying Snapdeal, after its first proposal of USD 850 million was rejected by the Board of the smaller rival.

New Delhi, Jul 12 () E-commerce major Flipkart is expected to make a revised offer of USD 900-950 million for buying rival Snapdeal, according to sources.

New Delhi, May 2 () Japanese firm SoftBank today could not manage a crucial nod from co-investor Nexus Venture Partners (NVP) for the sale of Snapdeal, possibly to Flipkart.

New Delhi, Mar 14 () Snapdeal expects to garner over Rs 100 crore in revenue from its ad platform that assists sellers in improving their brand visibility on the e-commerce platform.

Snapdeal will require the approval of at least 75% shareholders of the company for the proposed merger with Flipkart to go through, people familiar with the matter said. This means a ‘yes’ from the investors and founders on the board of Snapdeal alone would not be sufficient for the deal to close.

New Delhi, Aug 1 () Snapdeal's earliest investor Kenneth Glass has come out in support of CEO Kunal Bahl over the decision to call off merger talks with larger rival Flipkart. Glass, a former Microsoft executive, has written an email to Bahl extending his support for 'Snapdeal 2.0'.

E-commerce portal Snapdeal has launched a new program for sellers in India. Called the Pay Per Transaction, this model will allow the sellers who advertise on Snapdeal to pay only when there is a successful completion of an order that was led by the advertisement.

Executive director of the Piramal Group, Anand Piramal, has invested an undisclosed amount in ecommerce platform Snapdeal.

Online marketplace Snapdeal has started a due diligence process to acquire rival ShopClues in what will be an all-stock deal between the two companies, said three sources familiar with the development. Snapdeal is also exploring a capital raise at a valuation of about $2 billion, which could be aided by the acquisition.

New Delhi, Jul 31 () Talks for the proposed acquisition of the beleaguered Snapdeal by larger rival Flipkart seem to have broken down after almost six months of negotiations, with the fate of the deal likely to be decided by the end of the day, according to company sources.

New Delhi, July 31 () E-commerce firm Snapdeal today terminated talks for a takeover by larger rival Flipkart, saying it will "pursue an independent path" to continue its operations. The company was reported to be in talks for selling its business to Flipkart in a USD 900-950 million deal.

In May, both the companies had signed a binding agreement after which Flipkart initiated due diligence. At that time, Snapdeal was being valued at about $1 billion. The exclusivity period of the same agreement ended on July 2.

New Delhi, July 31 () Snapdeal today called off the USD 950 million-takeover (over Rs 6,000 crore) by Flipkart, apparently over differences in valuation and terms of what could possibly have been the largest deal in the Indian e-commerce space.

Snapdeal expects the e-commerce story over the next 5-10 years will be around the growth of the 'value lifestyle' segment, and the online marketplace is looking to corner a slice of this opportunity. Snapdeal's business metrics are in a good space in the value e-commerce category, Himanshu Chakrawarti, CEO of Snapdeal, said.

The valuation of Snapdeal is believed to be one of the hurdles to the deal, as Kalaari and NVP were not in agreement with the valuation given by SoftBank, which is the largest shareholder in Snapdeal.