Snapdeal Flipkart Merger: talks surging ahead as Softbank investing 1.5 billion
Snapdeal Flipkart Merger
Astonishing news has come regarding the collaboration of two big e-commerce online websites snapdeal and flipkart. The report has come from the firm official sources regarding Snapdeal Flipkart Merger. According to the reports by TOI, Softbank, a leading Japanese group had given snapdeal main two options including collaboration with flipkart or paytm to choose from. According to the Softbank group, who is an investor as well as shareholder of 30% in Snapdeal Corporation said talks surging ahead as group is investing 1.5 billion.
Snapdeal Flipkart Merger
People will likely to see the biggest unification in future from the great mergers between these two big firms snapdeal and flipkart. The Japanese corporation which is surging ahead for this collaboration will empower 1.5 $ billion amount in the new formed e-commerce corporation.
So far, this collaboration is seeing the brilliant sale of shares around 41 billion by the biggest shareholder of flipkart. In addition to this, nearly 20 % share will be hold by the tiger global in the corporation. As per reports, this merger deal will be preserved by the end of April.
Softbank Investments
Due to sudden losses bear by both e-commerce websites, they have decided to merge up to create a new and best e-commerce platform. In Feb., snapdeal has reportedly announced that it would dismiss more than 600 workers and the founders of the firm will give up their pay. The firm had expressed the loss of around Rs 2,960 Cr in 2016.
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On the other hand, flipkart had raised a huge amount around $ 1 billion from a well known Chinese corporation tencent & Microsoft. The firm also stated that it was also trying to achieve $ 500 million outlay from other e-commerce firm, eBay.
However, both the firm’s flipkart and snapdeal till now haven’t verified regarding the deal. But if it will happen, then undoubtedly, this would be the major e-commerce collaboration contract till now in India.
Both Snapdeal and Flipkart have refused to verify so far whether the deal is being discussed, but if it takes place it would be the biggest e-commerce deal in the country.
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So, that’s all about the Snapdeal Flipkart Merger information. Viewers are recommended to stay tuned with our web portal i.e. coolexample.in for more updates.
