There is a Possibility of merger of Snapdeal with Flipkart
It was discussed in the proposal in the board meeting of Softbank. Snapdeal and Flipkart are one of the leading E-commerce companies in India. There is a possibility of merger of Snapdeal in Flipkart. Softbank is the biggest investor in Snapdeal. If this possibility turns into reality then this will be the biggest acquisition ever in Indian E-commerce industry.
Points discussed in the meeting are not made public by Softbank but Selling of Snapdeal was also discussed with other points. Initial investors of Snapdeal – Kalaari Capital and Nexus Venture will also get 100 million dollars each from this proposed sale. Softbank can make its stake 20 % in the biggest ecommerce company of India. Softbank has 33% Share, Kalaari capital – 8 % Share and Nexus Venture Partner – 10%. Kunal Behl and Rohit Bansal are the founders of company with 6.5 % share.