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Snapdeal Asks For $900 Million From Flipkart For Acquisition

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Snapdeal Acquisition,Snapdeal Asks Flipkart For Acquisition,Latest Business News 2017,Startup Stories,Inspirational Stories,Startup Stories 2017,Startup News,Ecommerce Firm Snapdeal,Azim Premji,Ratan Tata,Snapdeal board

After rejecting Flipkart‘s initial offer, the board of Snapdeal has reportedly asked for a $ 900 million payout for the proposed acquisition. Reports suggest Flipkart has not yet responded to the offer.

The Economic Times reported a new offer will likely be made by early next week, according to sources privy to the development. This new offer is close to the initial offer of $1 billion made by Flipkart before conducting an eight week long due diligence.

A Letter of Intent (LoI,) was first signed by Flipkart and Snapdeal for a possible merger in May 2017. Since then, the acquisition deal has faced many roadblocks. The merger had to initially get special permission from FEMA and RBI for possible transfer of Flipkart stock. Later, Azim Premji the Chairman of Wipro and the head of Premji Invest, his own personal investment arm, also sent a letter to the board of Snapdeal objecting to the special payouts for the founders and two larger investors. The board of Snapdeal is yet to receive approval from Premji Invests, Ratan Tata and other smaller shareholders who together own 40% of the Snapdeal stock. 

Japan based SoftBank, Snapdeal’s largest investor has been the mediator for the deal for the past two months. Founders Kunal Bahl and Rohit Bansal along with representation from majority shareholders Nexus Venture Partners and Kalaari Capital, together form the Snapdeal board.

Apart from talks with Flipkart, Snapdeal is also engaged in separate discussions to sell their mobile wallet operations arm FreeCharge and the logistics arm Vulcan Express. Axis Bank and GATI, among others, have shown interest in acquiring FreeCharge and Vulcan respectively.

SoftBank, which initially valued Snapdeal at $ 6.5 billion in 2016, cut its valuation by 85% to $ 1 billion for this merger. Post which Flipkart made an all stock acquisition offer of $ 800 – $ 850 million which valued Snapdeal at $550 million. Snapdeal rejected this offer saying it undervalued the ecommerce company given that the due diligence report was clean.

This merger, if completed, would mark the biggest acquisition in the ecommerce industry which could give tough competition to the global ecommerce giant Amazon. SoftBank, Snapdeal and Flipkart have declined to comment about this latest development.

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Agritech Startup Gramik Raises INR 17 Crore to Expand Rural Commerce in India

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StartupStories
  • Gramik, a Lucknow-based agritech startup, has secured INR 17 crore in a bridge funding round ahead of its upcoming INR 56 crore Series A raise.
  • The funding round included investments via Optionally Convertible Debentures (OCDs) and Compulsorily Convertible Debentures (CCDs).
  • Key investors include Sammaan Global Ventures, Money Creeper Investment, and prominent angels such as Balram Yadav (MD & CEO, Godrej Agrovet), Gev Aryaton, Irfan Alam, Nikhil Bhagat, and Salvia Siddiqui.

Gramik’s Unique Peer Commerce Model

  • Founded in 2021 by Raj Yadav, Gramik empowers over 120 million small and marginal farmers in India through a technology-driven rural commerce platform.
  • The startup operates a dual-channel distribution network using Village-Level Entrepreneurs (VLEs) and rural retailers to deliver high-quality agri-inputs to remote areas.
  • Gramik’s full-stack platform offers demand aggregation, logistics, embedded credit, and agronomy services, ensuring last-mile delivery and support for farmers.

Expansion Plans and Future Growth

  • Gramik currently operates in 12 districts, with 1,200+ active VLEs and 250+ rural retail partners, and plans to expand to 3,000 VLEs and reach 1 million+ farmers across Uttar Pradesh, Maharashtra, and Jammu.
  • The new funds will be used to expand Gramik’s private-label products, enhance agronomy-led farmer engagement, and scale operations in key states.
  • With a strong focus on supply chain efficiency, technology, and farmer advisory services, Gramik aims to become a leader in India’s $50 billion agri-input and rural commerce market.
  • Backed by previous seed funding of over INR 25 crore, Gramik is set to drive innovation and inclusive growth for rural communities.

 

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Reliance Jio Platforms Puts $100 Billion IPO on Hold to Focus on Growth

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Reliance Jio Platforms, the digital and telecom powerhouse led by Mukesh Ambani, has decided to postpone its highly anticipated initial public offering (IPO), shelving plans for a 2025 listing. The IPO, which analysts valued at over $100 billion and expected to be India’s largest-ever stock market debut, will not take place this year. The company has yet to appoint bankers for the process, signaling that preparations for the public offering have not started in earnest.

According to sources close to the matter, Jio Platforms wants to give its business more time to grow before going public. The company is focusing on boosting revenues, expanding its telecom subscriber base, and scaling up its digital services—including apps, connected devices, and AI solutions—so it can achieve a higher valuation when the IPO eventually happens. Nearly 80% of Jio Platforms’ $17.6 billion annual revenue currently comes from its telecom business, Reliance Jio Infocomm, but the company is investing heavily in new digital ventures and partnerships, such as its collaboration with Nvidia on AI infrastructure.

The news of the delay impacted the market, with shares of parent company Reliance Industries falling by up to 1.8% following the announcement. Despite a strong IPO environment in India, Jio’s move is seen as a strategic decision to ensure stronger business fundamentals and a higher valuation before entering the public markets. Major investors, including Google and Meta, are said to support the decision, viewing it as a step toward long-term value creation.

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Flick TV Secures $2.3M to Revolutionize India’s Micro-Drama Streaming Scene

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Flick TV StartupStories

Flick TV, India’s first mobile-focused OTT platform dedicated to micro-dramas, has secured $2.3 million in seed funding led by Stellaris Venture Partners, with participation from Gemba Capital and Titan Capital. Founded in early 2025 by Kushal Singhal, Pratik Anand, and Sanidhya Mittal, the platform aims to address the growing demand for high-quality, short-form storytelling tailored for mobile consumption. Unlike traditional user-generated short video platforms, Flick TV produces professionally shot, under-five-minute dramas across genres such as romance, thrillers, and slice-of-life—each crafted for vertical viewing to suit India’s rapidly expanding mobile internet audience.

The newly raised capital will be used to scale up content production, with plans to launch over 100 original titles, enhance the platform’s streaming technology, and expand offerings into four regional languages. Flick TV is also investing in generative AI and advanced workflows to streamline scripting and production, aiming to combine creative excellence with operational efficiency. The founders bring deep expertise from previous roles at ShareChat, EloElo, Meesho, and Pocket FM, positioning the company to bridge the gap between creator agility and cinematic storytelling in India’s nascent micro-drama ecosystem.

Industry observers see Flick TV as a frontrunner in India’s next entertainment wave, which is expected to be mobile-native, emotionally engaging, and built for short attention spans. With the micro-drama market projected to reach $5 billion in India over the next five years—mirroring the $7 billion success in China—Flick TV is poised to set new standards for premium, binge-worthy short-form content and redefine streaming for the modern Indian viewer.

 

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