A Snapdeal boardroom discussion was held on Tuesday led by Softbank which is the largest shareholder in the company regarding the perspective sale of Snapdeal to its current e-commerce rival Flipkart.
Shareholders of Snapdeal are about to own 1/10th part of Flipkart’s share, according to an offer mentioned by coalesce of Japanese media and Telecom. Moreover, other two prior capitalists of Snapdeal put forward to owing $100 Million from the sale as well. According to a couple of inside members, this sale could give Softbank a 20% share in the largest e-commerce giant Flipkart for an amount of $1.5 billion which would also include Tiger Global’s hold in Flipkart of about $0.5-1 billion.
A venture capitalist at Paytm, Alibaba has also gone through the discussion for Snapdeal’s attainment but the main huddle comes as lower valuation proposed as compare to Flipkart. However, if successful, this deal will mark it as biggest acquisition in the world of ecommerce industry and furthermore lineation of Indian online market including Alibaba and US’ Amazon also playing a significant role. As per an informer, the final or official conclusion is still in progress. There was a board meeting held on Tuesday that gestured the rift among the investors of Snapdeals, Nexus Venture partners, Kalaari capital, and the biggest shareholder Softbank.
In other meeting with media, Vani kola the managing director of Kalaari Captilal demolishes the news related to her resignation from the board of Snapdeal with her statement, “I am personally distressed by the recent distortions of facts and the leaks that provide self-serving partial information. This is detrimental to the growth of Indian ecosystem. Board confidentiality is an oath that deserves to be observed. I still remain on the Snapdeal board, and will serve the company to the best of my abilities. I have tremendous respect for members of the Snapdeal board.”
As it is already mentioned in our earlier blog about share holders and participation of all investors and cofounders of Snapdeals, “Snapdeal’s Onboard Breach Prompted Pullout of Investment Offer by Softbank”, that revealed that Softbank owns major part of stakes and it propounded for a meeting of all major stakeholders in New Delhi. .
A share value of two co founders which is 6.5% has been estimated as $6.5 billion. On the other hand, Kalaari has added almost $27.5 million in Jasper and got high revenue that was estimated as $100 million but it sold some parts of stakes to Softbank in the year of 2014. Nexus Venture partners invested almost $50 million and never sold any of his shares.
As a part of the deal, SoftBank’s governance power has also been discussed. SoftBank’s new strategy aims to consolidate its Indian investments which might be the possible cause of the sale of Snapdeal.
3567 
