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Azim Premji’s PremjiInvest Objects to the Flipkart-Snapdeal Acquisition Deal

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The planned acquisition of Snapdeal by the E commerce giant Flipkart, has hit a roadblock that might jeopardize the entire deal. Wipro CEO Azim Premji’s personal equity fund PremjiInvest has reportedly objected to the payouts that are being offered by Flipkart to the stakeholders, as part of the deal.

Bloomberg reported PremjiInvest, which is one of the smaller investors of Snapdeal has written to the board objecting to the special payouts for the founders and two larger investors Kalaari Capital and Nexus Venture Partners. As a precondition of the transaction, Flipkart told Snapdeal all the investors of the startup had to agree to the terms of the deal. This objection by PremjiInvest will halt the biggest E commerce merger set to compete against Amazon.com Inc.  

According to the present transaction deals, larger investors and founders will receive a better bargain for their investment. The co founders Kunal Bahl and Rohit Bansal will together receive $30 million, while early investors Kalaari Capital and Nexus Venture will get $60 million in addition to new equity in Flipkart. This nonbinding preliminary agreement was proposed at a fraction ($1 billion) of Snapdeal’s peak valuation ($6.5 billion).

PremjiInvest is mainly objecting to the differential payment of $90 million that will be handed to a select group of early shareholders and founders. It has no objection to the proposed $30 million that will be given to Snapdeal employees.

The largest shareholder of Snapdeal, SoftBank Group Corp ., has pushed for the deal as the ecommerce company lost market share to Amazon and struggled to raise funding last year. Intel Capital, Bessemer Venture Partners, BlackRock, Temasek and the family of Ratan Tata are the other smaller investors of the startup.

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Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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Dunzo

The National Company Law Tribunal (NCLT) Bengaluru bench has dismissed an insolvency plea filed against quick commerce startup Dunzo by its invoice discounters, declaring the petition “not maintainable” after several postponements. This decision offers temporary relief to Dunzo, which has been facing multiple insolvency petitions from various creditors, including Velvin Packaging Solutions and Betterplace Safety Solutions, over unpaid dues.

The invoice discounters alleged that Dunzo had paid only 50% of the required amounts, though the exact sum was not disclosed. Despite ongoing settlement talks, no resolution was reached, and the tribunal noted Dunzo’s delays in responding to creditor petitions. Dunzo continues to grapple with severe liquidity issues, delayed payments, and significant losses—reporting a ₹1,801.8 crore loss in FY23 and owing approximately ₹11.4 crore to major vendors like Google India and Facebook India.

While this NCLT ruling provides Dunzo some breathing room, the company still faces ongoing financial and operational challenges as it works to resolve its outstanding liabilities.

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How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

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Golden Retriever in workplace

Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”

Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.

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Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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