Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Negotiations to acquire <a href="http://www.businessinsider.in/searchresult.cms?query=jabong&amp;sortorder=effectivedate">Jabong</a> are underway and <a href="http://www.businessinsider.in/searchresult.cms?query=alibaba&amp;sortorder=effectivedate">Alibaba</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=future+group&amp;sortorder=effectivedate">Future Group</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=myntra&amp;sortorder=effectivedate">Myntra</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=aditya+birla+group&amp;sortorder=effectivedate">Aditya Birla's</a> ecommerce venture <keyword id="3103299" type="UNKNOWN" weightage="20" keywordseo="Abof">Abof</keyword> are among the top contenders to seal the deal, which is expected to be at $250-$300 million. 
 <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, reportedly, is also said to be in the race but won’t bid that aggressively. Even though <keyword id="6388367" type="COMPANY" weightage="100" keywordseo="Jabong">Jabong</keyword> has asked for $250-300 million, the deal size could be lower. 
 
German incubator Rocket Internet, who founded Jabong in 2012, and Swedish investment firm Kinnevik, which owns a large stake in Jabong's parent Global Fashion Group, are keen to exit. 
 
"Jabong has held talks with these four companies over the past few weeks. While none of the negotiations has reached an advanced stage, the deal size could be around two times its annual sales and is expected to close within the next six months," a executive told ET. 
 
Executives from Rocket Internet and Kinnevik are currently camping in India to oversee a sale, ET quoted sources as saying. 
 
ET reported that Jabong's revenues dropped 7% to Rs 869.1 crore in 2015 from the year earlier but it trimmed losses to Rs 46.7 crore from Rs 159.5 crore after a clampdown on discounts, much as other ecommerce companies have done. 
 
The Gross Merchandise Value (GMV) rose 14% to Rs 1,503 crore from almost 5.4 million orders. 
 
Jabong's net sales grew 14% to 32.6 million in the March quarter with a gross profit of 0.2 million as it derisked business by moving more toward the consignment and marketplace model and away from discounting. 
 
Apart from this, another attractive deal with Jabong could be its top management. Jabong hired former Benetton India managing director Sanjeev Mohanty as chief executive in 2015 and former eBay executive Muralikrishnan B as chief operating officer in February. 
 
Harminder Sahni, founder of retail consultancy Wazir Advisors, told ET, “I see merit in somebody acquiring and rebuilding brand because it is not easy to build brand awareness of that level in today's time as nobody is going to fund that kind of money in brand building anymore.” 
 
(Image: Thinkstock)

Alibaba, Future Group, Myntra in race to buy Jabong, deal size expected to be $250 million

<keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, the co-founder of Flipkart sold his 5.5% stake in the company and left it in May 2019 after the ecommerce giant of India was acquired by Wallmart, the world’s largest retailer. Here are a few interesting facts about Sachin Bansal, the mastermind behind Flipkart. <ul><li>Sachin Bansal founded Flipkart in 2007 along with his partner <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>. In the initial stages, the ecommerce firm sold books online gradually expanding its operations into other domains. Today Flipkart has become one of the top ecommerce businesses in India. </li><li>In April 2016, Sachin Bansal was named among the 100 most influential people in the world along with Binny Bansal by the Times Magazine. </li><li>In some strategic deals, Flipkart acquired some well performing ecommerce businesses like Myntra, Jabong and PhonePe. </li><li>Sachin Bansal would later recollect in his life when Flipkart operated from a rented office costing them Rs.8,000 per month. He said the company during the starting years did not have any power backup they had to suffer the extremities of climate without AC or even windows to the building they had rented out for their ecommerce operations. </li><li>Sachin Bansal was a remarkable gamer. He used to give dinner to those who defeated him in games. </li><li>When the Big Billion Day sales was on, Sachin Bansal delivered the products along with Binny and others in the company.</li><li>Sachin Bansal and Binny Bansal are only business partners and co-founders of Flipkart. They are never related to each other though their surnames might suggest if they could be brothers. </li><li>Sachin and Binny studied at the same school. They were born and brought up in <keyword id="6360078" type="LOCATION" weightage="20" keywordseo="chandigarh">Chandigarh</keyword>, Punjab. Despite sharing their school with each other, they were never friends during their school days. Both of them graduated from IIT Delhi and only there at the college they got to know each other. </li><li>Sachin Bansal worked for Amazon in 2006. Binny Bansal joined the company in 2007. Later they came together to create Flipkart in 2007.</li><li>Sachin Bansal has married Priya Bansal, who was a dentist by profession. They both have a son.</li><li>Sachin Bansal is a highly sociable personality and loves gaming to the core. Sachin’s addiction to gaming was so intense that he wanted to give up his engineering course to find a career in gaming. During his early life, Sachin Bansal was highly passionate about playing games like Age of Empires and <keyword id="1269448" type="PERSON" weightage="20" keywordseo="Quake-III-Arena">Quake III Arena</keyword>.</li><li>Sachin Bansal is a visionary and a seasoned entrepreneur, the skill which he mastered through hard work. In 2018 after 11 years of his tenure with Flipkart, the company was valued at $20.8 billion. During this career at Flipkart, Sachin Bansal had the position of Chief Executive Officer and Executive chairman. </li><li>Sachin exited Flipkart along with the Walmart deal in 2018. During his exit, he had 5.5% stake in the company, which he sold to Walmart. During that time, his net worth was more than $1 billion.</li><li>During his exit from Flipkart, Sachin Bansal said he would focus on some personal projects that were long pending. He also said he wished to give himself to gaming and to brush up his coding skills.</li></ul>Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a>

You Searched For "jabong net worth" and got 2 results

Alibaba, Future Group, Myntra in race to buy Jabong, deal size expected to be $250 million

BI India Bureau

Unknown facts about flipkart founder Sachin Bansal

BI India Bureau

Popular Keywords

Buying Guides