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Snapdeal Rejects Flipkart’s Buyout Offer

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Snapdeal Rejects Flipkart Buyout Offer,#StartupStories,Startup Stories,2017 most Read Startup Stories,Inspirational Stories,Snapdeal Rejects Flipkart,Flipkart Snapdeal acquisition deal,Premji Invests,Ratan Tata,shareholders of Snapdeal and Flipkart,Snapdeal Board Rejects Flipkart Buyout Offer

According to numerous reports, the Flipkart-Snapdeal acquisition deal has hit another snag and Snapdeal rejected Flipkart’s $700-800 million buyout offer. This development comes after homegrown e-commerce major Flipkart, completed its commercial and legal due diligence of Snapdeal.

The offer presented late last week is significantly lower than its proposed opening bid of $1 billion post completion of eight weeks of due diligence. MoneyControl reported that according to the new offer Flipkart offered $550 million valuations to Snapdeal for an all-stock acquisition. The offer is just for the acquisition of Snapdeal’s marketplace and will not include the mobile payments subsidiary FreeCharge or the logistics arm Vulcan.

VCCircle reported that according to Snapdeal sources the proposed exclusivity period for Flipkart to conduct due diligence has ended, thereby opening up the possibility for other suitors to buyout Snapdeal. However, multiple media reports also suggest that Flipkart and Snapdeal will continue the talks of the merger but the valuation differences between the companies will delay the process.

The Flipkart Snapdeal merger talks have been in place for the past two months, with the deal hitting obstacles for a brief period of time. The delay in the acquisition deal may adversely affect Japan based softBank, SnapDeal’s major investor with an anticipated $ 1.5- $ 2 billion investment in Flipkart.

While officials from both Flipkart and Snapdeal declined to make any comment, the new deal is expected to be more satisfactory to Snapdeal’s minority investors. The private investment firm of Azim Premji, Premji Invests, one of the minority shareholders of Snapdeal, objected special payments to certain shareholders, including its two co-founders and two early backers. Ratan Tata, Ontario Teachers’ Pension Plan and BlackRock, among others, are also minority shareholders of the online retail firm.

SoftBank agreed to cut Snapdeal’s valuation by 85% to $1 billion compared with a valuation of about $6.5 billion in February 2016. If completed, the merger would mark the biggest acquisition in the highly competitive e-commerce sector, opposing established players such as Amazon.

Majority shareholders of Snapdeal and Flipkart i.e., Softbank Group and Tiger Global Management respectively will decide the final deal amount and other aspects of the acquisition.

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IIT Hyderabad Unveils Palyanka, Heavy-Lift Drone for Air Ambulance Use

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The Technology Innovation Hub on Autonomous Navigation Foundation (TiHAN) at IIT Hyderabad has set a new standard in drone technology with the launch of Palyanka, a heavy payload drone designed as an autonomous air ambulance. Capable of carrying up to 200 kg, Palyanka is engineered to swiftly transport patients, medical equipment, or critical cargo across challenging terrains, bypassing traditional barriers like road congestion and remote inaccessibility. This advanced UAV operates autonomously, making it highly effective for rapid response in both urban and rural emergencies, and stands at the forefront of disaster relief operations in scenarios such as floods and fires.

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With a development journey spanning over five years and led by Prof. P. Rajalakshmi, TiHAN’s team has transitioned from early drone prototypes to a full-scale, high-capacity solution like Palyanka. The team is now preparing pilot projects in hilly terrains and working on further enhancing the drone’s endurance with innovative heat-resistant materials. By pioneering such indigenous solutions, IIT Hyderabad’s TiHAN is transforming emergency medical services and logistics, marking a pivotal advancement in India’s urban mobility and public safety landscape.

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X’s Major Price Cut in India: Premium Plans Now More Accessible Than Ever

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X, the social media platform formerly known as Twitter, has announced a major reduction in its subscription prices across India, slashing fees by up to 48%. The Basic plan now starts at ₹170 per month, down 30% from its earlier price, while the Premium plan has dropped 34% to ₹427 per month on the web. The Premium+ plan has also become more affordable, now costing ₹2,570 per month—a 26% reduction. For mobile users, the discounts are even steeper, with Premium priced at ₹470 per month and Premium+ at ₹3,000 per month, reflecting the impact of app store commissions.

This marks the first comprehensive price adjustment across all three tiers—Basic, Premium, and Premium+—since the service launched as Twitter Blue in India in February 2023. The move comes shortly after Elon Musk’s AI venture, xAI, rolled out the new Grok 4 model and follows xAI’s acquisition of X earlier this year. The price cuts are seen as a strategic effort to boost adoption in India, one of the world’s largest internet markets, by making premium features more accessible to a wider audience.

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