Snapdeal is set to be acquired by Flipkart
In a historic deal that could change the ecommerce landscape in India, Flipkart is all set to acquire Snapdeal, founded by Kunal Bahl and Rohit Bansal, according to senior company officials in the know of the development. The estimated size of the deal is around $750 million- $1 billion. Nexus Ventures Partners, an early investor of Snapdeal is understood to have agreed to the deal. A non-binding term sheet is expected to be signed in a day or two. The acquisition process will take at least two-three months to complete. This deal could intensify the war between homegrown digital players and global ones such as Amazon or Alibaba.
Now that Flipkart has taken over Myntra, Jabong and Snapdeal off late, how do you think Amazon and Flipkart would battle amongst themselves?