Connect with us

Latest News

Flipkart Sweetens Snapdeal Buyout Bid

Published

on

Flipkart Sweetens Snapdeal Buyout Bid,Startup Stories,2017 Latest Business News,Flipkart Increase Buyout Bid,Tiger Global Management,Flipkart,Snapdeal

Indian ecommerce giant Flipkart has offered a revised buyout deal of up to $ 950 million for the acquisition of the smaller rival Snapdeal. According to news firm CNBC, the new proposal is being evaluated by the company’s board.

Delhi based ecommerce firm Snapdeal had previously rejected Flipkart’s initial $ 700 – $ 800 million offer and in turn had asked for buyout bid ranging close to $ 900 million. According to sources close to the deal talks between the two companies are on going but the final closure of the deal could still be months away. 

Flipkart’s offer is only for the acquisition of the online market space and unicommerce business Snapdeal. Its logistics arm Vulcan Express along with their payments platform FreeCharge will be sold independently. GATI and Axis Bank have already come out as front runners interested in acquiring Vulcan and FreeCharge respectively.

Snapdeal reached peak evaluation in February 2016 at $ 6.5 billion where they raised $ 50 million from investors. But majority investor SoftBank reduced their valuation by more than $ 1 billion for the potential acquisition from Flipkart against the wishes of its founders Kunal Bahl and Rohit Bansal.

This sale, according to a report from Livemint, is likely to be accompanied by an equity infusion into Flipkart by SoftBank. The Japanese firm is also in talks to buy part of Flipkart’s majority investor Tiger Global Management’s 30% – 35% stake in the company.

If this deal between both the ecommerce companies fails, VCCircle reported Sanpdeal’s future will depend on how existing investors will support the struggling company. According to experts, it will be very difficult for Snapdeal to find interested buyers as the entire brand value is built around unique transactions and users versus the giants like Amazon and Flipkart.

Amazon recently got government approval to invest $ 500 million in the food processing industry and has invested Rs. 1,680 crores in their Indian unit. Flipkart is also reportedly in talks with eBay India over an acquisition deal. Therefore, a merger between Snapdeal and Flipkart would give global ecommerce company Amazon tough competition in almost all sectors. 

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Lkdiwcro

    May 26, 2025 at 12:51 pm

    Explore the ranked best online casinos of 2025. Compare bonuses, game selections, and trustworthiness of top platforms for secure and rewarding gameplaycrypto casino.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Pune’s SuperGaming Secures $15M to Expand in Emerging Markets

Published

on

Super Gaming

SuperGaming, the Pune-based gaming innovator known for hit titles like MaskGun and Indus Battle Royale, has raised $15 million in a Series B funding round, boosting its valuation to an impressive $100 million. This marks a nearly fivefold increase from its 2021 valuation of $21 million, highlighting the company’s rapid growth and the rising investor confidence in India’s booming gaming industry. The funding reflects SuperGaming’s strong market presence and strategic vision to become a global leader in online gaming. 

The funding round was spearheaded by Skycatcher and Steadview Capital, with significant participation from notable international investors including a16z Speedrun, Bandai Namco O21 Fund, Neowiz, and prominent Web3 financiers such as Polygon Ventures and Sandeep Nailwal. Existing backers like AET Japan and BACE Capital also continued their support. SuperGaming aims to utilize this capital infusion to expand its footprint internationally, focusing on emerging markets. A key initiative includes launching its award-winning game, Indus Battle Royale, in Latin America through a partnership with LOUD.GG, alongside rolling out its proprietary SuperPlatform developed with Google Cloud to empower game developers worldwide, especially in resource-constrained regions. 

CEO and Co-Founder Roby John emphasized that this funding milestone is crucial in shifting India from merely a gaming consumer base to a hub for gaming innovation. By adopting a “hyper-local” strategy that tailors games to diverse cultures in underrepresented markets like the Middle East and Latin America, SuperGaming is poised for global growth. With over 200 million installs and an expanding user base, SuperGaming’s recent fundraising solidifies its position at the forefront of India’s gaming revolution, ready to make a major impact on the international stage.

Continue Reading

Latest News

Swiggy DeskEats: Office Food Delivery Launched in 30 Cities

Published

on

Swiggy

Swiggy, India’s leading online food delivery platform, has introduced DeskEats, a unique meal delivery service specifically designed for office-goers and working professionals across 30 major cities. DeskEats aims to streamline office dining by offering a diverse, office-friendly menu, making it easier than ever for corporate employees to enjoy convenient and delicious meals right at their workplace. By simply typing “Office” or “Work” in the Swiggy app, users can unlock curated collections like Value Combos, Stress Munchies, Healthy Nibbles, and Teamwork Bites, catering to every office dining scenario—from solo meals to team lunches and quick snack breaks.

Swiggy’s DeskEats is now operational in over 7,000 tech parks and business centers, granting office workers access to nearly 700,000 menu items from over 200,000 restaurants. This vast variety ensures there’s something for everyone, addressing the growing demand for quick, tasty, and nutritious food that fits seamlessly into the busy schedules of working professionals. Early trends from DeskEats’ pilot phase show a strong preference for easy-to-eat options like chicken popcorn in Bengaluru and garlic breadsticks in Gurugram, reflecting the popularity of meals tailored for the modern workday.

Expanding upon its Corporate Rewards Program, which is already trusted by thousands of organizations, Swiggy enables companies to enhance employee wellness programs by offering food delivery, groceries, and dining benefits efficiently. With DeskEats, Swiggy reaffirms its commitment to transforming workplace dining by prioritizing variety, convenience, and user satisfaction—cementing its position as a key player in the evolution of India’s office food culture.

Continue Reading

Latest News

Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

Published

on

Pine Labs

Setu, the API infrastructure platform and subsidiary of Pine Labs, has significantly strengthened its leadership by appointing Prashanth Nimmagada (ex-Razorpay) as Chief Technology Officer, signaling its commitment to innovation in India’s dynamic fintech landscape. Alongside Nimmagada, Setu has welcomed other top industry talent: Vijeth Pandit (ex-Razorpay) as Chief Product Officer, Ramkumar Thirumurthi (ex-Razorpay, co-founder Actyv.ai) as Chief Revenue Officer, Nikhil Ratanpal (ex-PhonePe) as Director of Product Development, and Santosh Subramanian (ex-Yes Bank, Wibmo) as Head of Finance. These high-profile hires accompany Anand Raisinghani’s (ex-SAP India) appointment as CEO, underscoring Setu’s focus on building a strong, experienced leadership bench to drive future growth.

Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

Continue Reading
Advertisement

Recent Posts

Advertisement