Flipkart makes revised offer for Snapdeal
Flipkart has made a revised offer for Snapdeal, one of its key competitors in the Indian e-commerce sector. The size of the offer has been variously reported as around $900m or about $950m – with Bloomberg’s sources offering the higher figure.
Snapdeal’s board rejected an initial offer earlier this month.
Bloomberg claimed that Japan’s SoftBank Group Corp., which backs Snapdeal, and New York’s Tiger Global Management, a Flipkart investor, are keen to see a merger, which has been under discussion for some time.
Flipkart and Snapdeal have been the two big players in the Indian market, but they have been facing strong competition from Amazon in recent years.
