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Talks between <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> have hit another hurdle as the Snapdeal board has refused a takeover offer of $800-850 million, or nearly Rs 5,500 crore. PTI quoted sources as saying Flipkart has completed the due diligence process and has made an offer of USD 800-850 million to buy Snapdeal. However, Snapdeal's board felt the amount undervalued the company. "The first offer has been rejected but talks are still on. It is an ongoing discussion," one of the sources told PTI. <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, the Snapdeal's largest investor, has been proactively mediating the sale for the past few months. The board also has representation from Snapdeal founders (<keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and Rohit Bansal), NVP and Kalaari Capital. The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space. Compared to a valuation of about USD 6.5 billion in February 2016, the sale to Flipkart could see Snapdeal being valued at about USD 1 billion. SoftBank has already written off over USD 1 billion on valuation of its investment in Snapdeal.

Snapdeal rejects Flipkart’s $850 million offer

Ecommerce website Flipkart and camera maker Nikon are at loggerheads. The latter had put a statutory warning in its website advising people not to buy its products through online stores, which has consequently provoked Flipkart to file a case in the Karnataka High Court. 
 
Nikon India's caution notice dated June 16, 2014, said ecommerce websites "like Flipkart, Snapdeal are not our authorised partner/dealer" and asked consumers to "check the warranty entitlements while buying from online portals." 
 
"They have singled us out and they cannot make such statements," said a person familiar with Flipkart's case. 
 
"We are selling the same product and therefore, we are asking the high court to restrain Nikon from publishing the statement on their website." The case was filed on August 3 and the next hearing is scheduled on August 21, according to the court's website. Nikon India said it received a letter from an advocate regarding the issue and is studying it. It declined to comment further, saying the matter is sub judice. However, Flipkart didn’t respond to any media query. 
 
"Advisories discouraging customers to buy from online marketplaces like Snapdeal are unwarranted," a spokesperson for the ecommerce company said in an email to the financial daily, adding that they also are "against the principles of free trade and commerce." 
 
Products available on Snapdeal carry the same genuine and legitimate title and hence are eligible for warranty as applicable to any off-line purchases, the Snapdeal spokesperson said. 
 
New Delhi-based Snapdeal had filed a case against kitchen appliance maker Kaff last year for a similar advisory on its website. 
 
Last year, companies, including LG, Lenovo and Toshiba, issued advisories on their websites stating that they had not authorised the sale of their products on online marketplaces.

Flipkart and Nikon battle it out at the courts!

<ul><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> hit 344 million visits, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and Myntra combined had 314 million visits in September.</li><li><keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> had 87 million visits in the same month.</li><li>Clubfactory, <keyword id="6357066" type="UNKNOWN" weightage="20" keywordseo="Shopclues">Shopclues</keyword>, Tata Cliq and <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> followed in the list.</li></ul>It comes as no surprise that Indian e-commerce giants Amazon and Flipkart managed to get a lion’s share of traffic in September. But what is unbelievable is the vast margin they managed to achieve, setting them apart in a crowded e-commerce market. Amazon received 344 million hits while Flipkart and Myntra combined got 314 million visits in September. The third highest number of shoppers came to Snapdeal which got 87 million visits in the same month, according to a SimilarWeb report. Amazon and Flipkart individually had over twice the number of visits than that of Snapdeal, Club Factory, Shopclues, Tata Cliq and Paytm Mall combined, showed the data from the report. 
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 On an interesting note, Snapdeal scripted a comeback story as its numbers grew to current 87 million from 27 million visits in October 2017. “The growing volumes on Snapdeal are built on a sound and granular understanding of the importance of value in Bharat-focused e-commerce. Our ability to build scale along with favorable unit economics gives Snapdeal an immense competitive advantage,” said Kunal Bahl, CEO &amp; Co-founder, Snapdeal in a statement. Meanwhile, Amazon and Flipkart rode on the festive sale discounts that started in September. Flipkart’s Big Billion Day sale too started towards the end of September.

Amazon and Flipkart have more than twice the site visits of next 5 other e-commerce companies combined

<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> will have to comply with all the norms of the <keyword id="6354335" type="CITY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) before acquiring <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>. Flipkart will have to deal with the rules listed under the Foreign Exchange Management Act (<keyword id="6379062" type="ORGANIZATION" weightage="20" keywordseo="FEMA">FEMA</keyword>) and will have to protect the interest of Snapdeal shareholders. Flipkart Pvt Ltd, which is domiciled in Singapore, has entered an all-stock deal, estimated at $700 million-$1 billion. But issuance of shares by <keyword id="3131603" type="UNKNOWN" weightage="20" keywordseo="flipkart-singapore">Flipkart Singapore</keyword> to Indian shareholders of Snapdeal would need a specific permission from RBI. ET reported RBI typically puts a question mark on cross-border transactions that result in residents owning shares of an overseas company that has stake in another Indian company. It views such flow of funds or securities as round-tripping though several such transactions are aimed at serving genuine business interests. Meanwhile, Snapdeal's local shareholders will look for a stock swap. "Such a stock swap will need RBI approval for Flipkart Singapore to acquire shares of an Indian company for consideration other than cash, and for the resident Indians to own shares of a foreign company (Flipkart Singapore), which may be governed by the ODI (overseas direct investment) guidelines,” Prem Rajani, managing partner at law firm Rajani Associates, told ET. The Fema rule is an issue that Flipkart and Snapdeal will have to deal with to consummate the proposed deal.

Flipkart has to cross another hurdle before acquiring Snapdeal. Here’s what it is

<a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate" data-type="tilCustomLink">Snapdeal’s</a> three major investors- <a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate" data-type="tilCustomLink">SoftBank</a>, Nexus Venture Partners and Kalaari Capital- have already agreed for e-commerce’s sale out to<a href="http://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate" data-type="tilCustomLink"> Flipkart</a>. But, apart from these, a nod from <keyword id="6419840" type="PERSON" weightage="100" keywordseo="Azim-Premji">Azim Premji</keyword> and <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> is also required as they too have stakes in <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>. <a href="https://www.bloomberg.com/news/articles/2017-05-16/flipkart-pact-for-snapdeal-said-to-need-premji-tata-approvals">Bloomberg</a> reported, as per the contract, Snapdeal needs backing from the two of India's most powerful businessmen. Nod from Premji, Tata and other several important investors is still awaited. “If due diligence goes smoothly, a term sheet specifying cash and stock for each shareholder will follow and a final agreement could be signed by mid- to late June,” Bloomberg quoted sources as saying. When the sale happens, Snapdeal's Kunal Bahl and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> will together receive about $30 million with a similar sum to be set aside for Snapdeal's nearly 2,000 employees. <keyword id="1397792" type="UNKNOWN" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>, one of the two early investors in the startup, is to get $30 million, while Nexus will receive twice that amount for its larger stake, they said. Kalaari's managing director <keyword id="1397790" type="UNKNOWN" weightage="20" keywordseo="Vani-Kola">Vani Kola</keyword>, an early investor in Snapdeal, told Bloomberg that she has resigned from the startup's board. "I was done with what I needed to do,” Kola said, adding that she saw no conflict of interest. Meanwhile, this merger will give a boost to <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>’s battle against <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, which is pumping in money in its Indian arm to grab a significant share in the market. Flipkart raised $1.4 billion from Tencent Holdings Ltd., Microsoft Corp. and EBay Inc, taking its valuation at $11.6 billion. "This is a landmark deal for Flipkart and for India,” the company's co-founders <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> and <keyword id="6364080" type="PERSON" weightage="20" keywordseo="Binny-Bansal">Binny Bansal</keyword> said in a statement. "This deal reaffirms our resolve to hasten the transformation of commerce in India through technology.

Azim Premji, Ratan Tata’s nod also important for Flipkart-Snapdeal merger

After <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>’s offer of $800-$850 million got rejected by <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, the Indian e-commerce giant is planning to make a new one. Reportedly, Flipkart might offer $900-950 million for buying Snapdeal. Snapdeal had asked for $1 billion for acquisition and this new offer is somewhat near to the asking price. PTI quoted sources as saying the deal is not finalised yet and the new offer will be made only next week. Snapdeal's board has already rejected a takeover offer of $800-850 million (around Rs 5,500 crore) from Flipkart as it felt the amount undervalued the company given that the due diligence report was clean. <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, Snapdeal's largest investor, has been proactively mediating the sale for the past few months. The board of Snapdeal also has representation from its founders (<keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and Rohit Bansal), Nexus Venture Partners and Kalaari Capital. Meanwhile, Snapdeal is also looking for buyers to sell <keyword id="3489561" type="UNKNOWN" weightage="20" keywordseo="vulcan-express">Vulcan Express</keyword>, its logistics arm. Snapdeal's valuations have also plummeted from about $6.5 billion in February 2016. SoftBank has already written off over $1 billion on valuation of its investment in Snapdeal.

This is the new offer Flipkart might make to Snapdeal. Here are the details

In the latest development, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> may merge with <keyword id="761157" type="ORGANIZATION" weightage="100" keywordseo="Infibeam">Infibeam</keyword>, which is India’s only publicly listed e-commerce company. As per various reports, Infibeam is in talks with Snapdeal for possible merger talks and has even put a term sheet that may value Snapdeal at $1 billion. If this deal goes through, Infibeam and Snapdeal together will create a company valued at $2 billion. Ahmedabad-based Infibeam has a market capitalisation of Rs 6,100 crore. The development comes after Snapdeal rejected a $700-750 million offer for sale to <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>. However, PTI reports Flipkart may make a new offer of $900-950 million. "While Infibeam has a focus on business-to-business commerce, Snapdeal's is a consumer-led online retail platform which is why this merger may bring in synergies in their operations. While Infibeam has given a term sheet, it's not the end of the road for Flipkart," ET quoted sources as saying.

After Snapdeal rejects Flipkart’s offer, it may merge with Infibeam and form a $2 billion company

<a href="http://www.businessinsider.in/searchresult.cms?query=nexus+venture+partners&amp;sortorder=effectivedate">Nexus Venture Partners</a> (NVP) has apparently given its nod for <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal’s</a> sellout to <a href="http://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate">Flipkart</a>. Japan’s <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, which secured a nod from <keyword id="1500808" type="COMPANY" weightage="20" keywordseo="KALAARI">Kalaari</keyword> capital last month, got a go-ahead from NVP as well. As per various reports, the term sheet with <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> could be signed soon and the due diligence for the deal would commence immediately thereafter. Sources told PTI, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> founders would get about $25 million each, while NVP could get close to $100 million and stake in the merged/new entity. Kalaari could get about $70-80 million. <a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a> yesterday said it suffered a loss of $1 billion on its investment in Snapdeal during 2016-17. SoftBank currently owns over 30% in Snapdeal, while Nexus has roughly a 10% stake and <a href="http://www.businessinsider.in/searchresult.cms?query=kalaari+capital&amp;sortorder=effectivedate">Kalaari</a> holds 8% share in the firm. The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space and change the landscape of the sector that is witnessing intense competition among players. Indian e-commerce companies have seen funding dry up over the last few months as investors are focusing extensively on profitability and rationalisation of expenses. With intense competition from deep-pocketed global rivals like <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, companies like Flipkart and Snapdeal could face more heat in the coming days. There have been reports that Snapdeal's mobile wallet service Freecharge could be sold separately with players like Paytm and MobiKwik being in the fray.

Flipkart all set to buy Snapdeal

In the past he used <keyword id="6354616" type="CITY" weightage="100" keywordseo="Twitter">Twitter</keyword> to slam <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, but <keyword id="225032" type="PERSON" weightage="100" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> did an exception on Wednesday when he came out in defence of the e-commerce rival after <keyword id="6355923" type="PERSON" weightage="100" keywordseo="Aamir-Khan">Aamir Khan</keyword>'s <keyword id="642964" type="UNKNOWN" weightage="100" keywordseo="intolerance">intolerance</keyword> remark sparked outrage also bringing massive criticism for Snapdeal. "This is a flawed logic. Brands don't buy into brand ambassadors personal opinions. @snapdeal shouldn't face this," Bansal, the co-founder and CEO of India's largest online marketplace <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> tweeted. 

	Many people enraged by Bollywood star Aamir Khan's recent controversial statements on rising intolerance in India vented their frustration on Snapdeal, for which Khan is a brand ambassador 
 

	Internet users downvoted Snapdeal's app on the Google Play Store and commented that others uninstall the app as well. "Uninstall snapdeal app #App wapsi Amir Khan plzz leave our country as soon as possible no Deal with snapdeal just uninstaled snapdeal App," an app store user who goes by the name Sujit Kadam wrote.
 

	This hasn't affected Snapdeal's rankings on the Play Store yet, according to App Annie. Snapdeal's ranking has remained constant at 27 in the the list of top apps. Flipkart is ranked at 9 and Amazon India at 14, according to App Annie.
 

	Flipkart itself was at the receiving end of such a protest in April as users angry with the company's move to join Airtel Zero down-voted and uninstalled its app in protest. 
 

	The last time around on Twitter, Bansal wasn't very charitable towards Snapdeal. In May, he took a stab at Snapdeal co-founder Rohit Bansal who reportedly suggested that India didn't have the right kind of software engineers it needed.
 

	"Don't blame India for your failure to hire great engineers. They join for culture and challenge," Bansal said. The Snapdeal co-founder later clarified that he was quoted "out of context."

Aamir Khan's intolerance remark: Flipkart's Sachin Bansal comes to Snapdeal's rescue

<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> tries to snub its competitors- <keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword> and <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> before the first day of the E-commerce sales. 
 
Amazon and Snapdeal are starting the festive sale season tomorrow ie. 1st of October while Flipkart is starting it on the 2nd. What will be interesting to see is who will not only give the best discounts and cashback but who will deliver on their services with no glitches? After the 2014 technical glitches at the Flipkart Big Billion Sale, we hope the sale-ing is smooth for this e-commerce player. 
 
Online marketplaces Flipkart, Amazon, and Snapdeal are ready for their annual festival sales starting the first week of October with Amazon. 
ShopClues and Paytm are also set to flag off their festive season sale around the same time. 
 
<a href="http://www.businessinsider.in/The-2016-Festive-Sales-Flipkart-Amazon-Snapdeal/articleshow/54597500.cms">ALSO READ:The 2016 Festive Sales- What’s Hot And Happening.</a> 
 
Flipkart's Big Billion Days 2016 and Amazon Great Indian Sale will be the most anticipated, just like every year but there are some things that have changed. 
<blockquote class="twitter-tweet" data-lang="en">
	
		Hang on India. The real deals begin only on the 2nd of October on India's biggest sale - The <a href="https://twitter.com/hashtag/BigBillionDays?src=hash">#BigBillionDays</a>. So first, wait for the 2nd. <a href="https://t.co/eKC4CJFT1r">pic.twitter.com/eKC4CJFT1r</a>
	— Flipkart (@Flipkart) <a href="https://twitter.com/Flipkart/status/781764300465582081">September 30, </a></blockquote>
<blockquote class="twitter-tweet" data-lang="en">
	&#xa0;</blockquote>

Flipkart attacking Snapdeal, Amazon shows the e-commerce festive war has
already begun.

<keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> has found support from its early investors such as <keyword id="175881" type="COMPANY" weightage="20" keywordseo="Nexus-Venture-Partners">Nexus Venture Partners</keyword>, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, etc, backing its decision to go solo. Snapdeal terminated its merger plans with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and put its foot down to function as an independent entity. Following the decision, Snapdeal’s early investor Nexus Venture Partners said it would "continue to partner with the company, to help achieve its goals". "Nexus, as a long-term Snapdeal shareholder, fully supports the Snapdeal 2.0 journey," said the firm. Nexus holds nearly 10-11% stake in Snapdeal. SoftBank, which was pushing Snapdeal to merge with Flipkart, too, backed Snapdeal's decision to go solo. However, some of the investors were upset over Snapdeal’s decisions, such as <keyword id="1397792" type="UNKNOWN" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>. “I maintain my stand that the decision to terminate the deal was not supported by Kalaari and also reiterate that the deal was called off without prior notice to us," <keyword id="1397790" type="UNKNOWN" weightage="20" keywordseo="Vani-Kola">Vani Kola</keyword>, managing director at Kalaari Capital, said in an email response to ET.

You Searched For "Flipkart Snapdeal" and got 11 results

Snapdeal rejects Flipkart’s $850 million offer

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Flipkart and Nikon battle it out at the courts!

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Amazon and Flipkart have more than twice the site visits of next 5 other e-commerce companies combined

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Flipkart has to cross another hurdle before acquiring Snapdeal. Here’s what it is

BI India Bureau

Azim Premji, Ratan Tata’s nod also important for Flipkart-Snapdeal merger

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This is the new offer Flipkart might make to Snapdeal. Here are the details

BI India Bureau

After Snapdeal rejects Flipkart’s offer, it may merge with Infibeam and form a $2 billion company

Flipkart all set to buy Snapdeal

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Aamir Khan's intolerance remark: Flipkart's Sachin Bansal comes to Snapdeal's rescue

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Flipkart attacking Snapdeal, Amazon shows the e-commerce festive war has already begun.

Tanya Dubey

Early investors support Snapdeal’s decision, back it to go independent

BI India Bureau

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