Snapdeal, which was recently in news for its ongoing discussions with Flipkart for a merger has decided to make deal with an independent entity, Nexus Venture Partners.

 

About Nexus-Snapdeal partnership

Nexus, a Gurgaon based company and an early backer of Snapdeal which hold 10-11% stakes said “it will continue to partner with company, to help achieve its goal”. They also added “Nexus, as a long-term Snapdeal shareholder, fully supports the Snapdeal 2.0 journey“.

 

Snapdeal’s Decision supporter

SoftBank Group, the largest stake holder and Kenneth Glass, an earlier investor have publicly supported its decision to move out of the merger.

 

Kalaari’s Opposition

Vani Kola, MD of Kalaari Capital said “I maintain my stand that the decision to terminate the deal was not supported by Kalaari and also reiterate that the deal was called off without prior notice to us“. She also added “We again say that Kalaari is currently not fundraising and SoftBank is not an LP in any of Kalaari’s funds, there is no agreement with Soft Bank for them to be an LP in Kalaari’s future fund“.

Leave a Reply

WE ARE TECHNIANS

Latest Articles & video

Good quality, informative articles about the industry

Looking to
Achieve your Goals?

Let us help you
get there!

We're a digital agency focused on
creative and results-driven solutions.

Start With
Submit Form Below