Snapdeal considered being the third largest e-shopping site in India is now rumored to be sold to Flipkart.
One of the Snapdeal online operators speaks privately on the matter that today on the sale deal there is more agreement than resistant. One of the officials also said “Snapdeal is sold out and an announcement is likely over the next few days.” The news of Snapdeal being sold to Flipkart is not a rumor. The authorities will officially announce it within few days. He also added, “A board meeting was held in Snapdeal today and a final agreement is being worked out.”
Other personal on the matter said “As things stand, they’re going with Flipkart. It’s only a matter of time, and whatever has to come out will be announced within the next two weeks.”
This sale and purchase matter could help SoftBank to get a remarkable lump of Flipkart’s interest from Tiger Global Management. Tiger Global Management is known as the Flipkart’s biggest shareholder also SoftBank is Snapdeal’s largest investor. So, with this deal, SoftBank and Tiger Global Management will seem to have a great change in their goodwill and work.
There are some last minute delays to this “sale-purchase” matter.
It is also being said that SoftBank, Snapdeal’s largest investor is drawing close a $100 billion “Vision Fund” for investment with a $900 million investment.
Earlier, Paytm and Snapdeal were expected to get a deal done. But somehow, the deal was hampered. Lets see how the snapdeal’s deal with Flipkart turn out to be!