Tag "snapdeal"

Snapdeal CTO Rajiv Mangla resigns

By : CIOL Writers

Snapdeal’s woes are far from over. Merely few days after CFO Anup Vikal’s exit, its Chief Technical Officer Rajiv Mangla has called it quits, a company spokesperson confirmed on Saturday. Mangla apparently resigned from his post on October 27 and will be

Snapdeal CFO Anup Vikal resigns

By : CIOL Writers

Though Snapdeal has been trying hard to bring its ship back into steady waters, looks like, there is still some time before that happens. In a latest blow to the e-commerce marketplace, Snapdeal’s chief financial officer (CFO) and general counsel, Anup Vikal has

Snapdeal decides to be on its own; No merger with Flipkart

By : CIOL Writers

Snapdeal, run by Jasper Infotech Pvt. Ltd has finally decided to run as an independent identity, howsoever small, thus putting all reports about a merger with rival Flipkart to rest. “Snapdeal has been exploring strategic options over the past several

Snapdeal-Flipkart deal may have come to a dead end

By : CIOL Writers

After six months of discussions and negotiations, looks like Snapdeal is still stuck where it was at the start of the year. According to the latest reports coming in from various quarters, Snapdeal’s proposed sale to Flipkart is in dire straits

Snapdeal board approves Flipkart’s new up to $950M bid: Report

By : CIOL Writers

Online marketplace Snapdeal has accepted Flipkart‘s revised takeover offer of $900-$950 million, according to a report from Reuters. Citing sources in the know of things, the report says that board of Jasper Infotech, which runs Snapdeal, approved Flipkart’s new bid last

Axis Bank in talks to acquire FreeCharge: Report

By : CIOL Writers

Private sector bank, Axis Bank is reportedly in talks to acquire mobile wallet firm FreeCharge, according to an Economic Times report. Citing three persons in the know of things, the report says that the deal could fetch $100 million for parent company

Snapdeal-Flipkart deal hits another roadblock

By : CIOL Writers

Looks like Snapdeal and Flipkart will take some more time before they announce their official merger. Snapdeal’s board has rejected a buy-out offer of roughly $700-800 million from rival Flipkart, creating a new hurdle in the proposed deal, Livemint reports. Apparently,

Amazon India will soon launch payments services

By : CIOL Writers

Though Amazon was a late entrant to the Indian e-commerce landscape, it has been giving fierce competition to local poster boy, Flipkart. And now, to further strengthen the platform, Amazon India is planning to soon launch payments services. In April, the Reserve

Flipkart-Snapdeal deal reportedly needs approvals from Azim Premji, Ratan Tata

By : CIOL Writers

SoftBank, Nexus Venture Partners and Kalaari Capital- the three major investors of Snapdeal may have given a green signal for the e-commerce portal’s proposed sale to rival Flipkart, however, the agreement would still need a nod from  two of India’s

All is well that ends well- Rs 193cr bonanza for Snapdeal staffs post Flipkart deal

By : CIOL Writers

“This is the way the world ends, Not with a ‘whimper’ but a bang.” Yes, this time it’s not going to be ‘a whimper’ but a bang bonanza. While a sale of a company is never a good news for

Flipkart reportedly makes an offer of $1bn to acquire Snapdeal

By : CIOL Writers

While SoftBank and other key shareholders continue to negotiate the terms of the deal, Flipkart has in the meanwhile made an informal offer of $1 billion to buy Snapdeal in an all-stock deal, reports Livemint. Flipkart’s offer is a non-binding one and

Boycott Snapdeal, Oops Snapchat: The curious case of mistaken identity

By : CIOL Writers

Just when you thought that things cannot get worse for Indian online marketplace Snapdeal, comes a blow from a completely unexpected quarter. Snapdeal may be bargaining hard for a potential sale to rival Flipkart behind closed doors but in the virtual

Airtel beats RJio this time; launches Android powered ‘Airtel Internet TV’

By : CIOL Writers

Though, Reliance Jio is widely rumoured to roll out its own DTH services soon, along with a smart set-top-box, looks like Bharti Airtel has beaten Ambani’s company this time at least. Airtel has launched an Android-based set-top-box, which can essentially convert any standard

Snapdeal partners Andhra Govt and UC Berkeley for smart village project

By : CIOL Writers

Online marketplace, Snapdeal has announced a partnership with University of California, Berkeley and Andhra Pradesh government to enable digital access for small artisans in the state’s ‘Smart Village’ project. With the objective of discovering economical and infrastructural barriers faced by artisans

SoftBank to sell Freecharge at 50pc discount for $200mn: Report

By : CIOL Writers

SoftBank-backed digital wallet Freecharge could soon be sold for as low as $150-200 million, reports Economic Times. This value is merely 50 percent of what FreeCharge is worth. Reportedly, Alibaba-owned Paytm is one of the frontrunners to buy the mobile wallet platform owned

SoftBank initiates truce between Snapdeal’s investors paving way for sale to Flipkart

By : CIOL Writers

Looks like Snapdeal may finally find a shore for itself soon as its three biggest investors—SoftBank Group Corp., Kalaari Capital and Nexus Venture Partners have decided to bury the hatchet, making way for a proposed sale of the e-tailer to one of its

Report: Snapdeal wooing employees promising profit & brushing off takeover rumors

By : CIOL Writers

Amidst cash crunch and investors feud, Snapdeal is finding it hard to convince employees of the ‘future profitability’ of the company. Snapdeal reportedly has conducted a series of undercover meetings with employees in past weeks, “promising profit and brushing off

Snapdeal reportedly missed on crucial funding due to investors’ feud

By : CIOL Writers

Snapdeal’s is fighting a battle of survival in the India’s competitive startup world. And with fresh reports suggesting an internal conflict between its investor, things only look bleak for the country’s homegrown e-tailer. Amidst the funding crunch that’s apparently marring the

Snapdeal snaps at fraud, saves Rs 3cr a month

NEW DELHI, INDIA: Snapdeal has been up to a range of initiatives launched at curbing fraudulent

Flipkart reportedly to acquire eBay India

By : CIOL Writers

India’s startup poster boy Flipkart is planning to acquire eBay India’s operations as part of its latest