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Flipkart: Snapdeal Shareholders Liable For Any Wrongdoing In The Firm

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Snapdeal Shareholders,ecommerce firm Flipkart,Snapdeal board,Premji Invest,Ontario Teacher Pension Fund,Wipro Chairman Azim Premji,flipkart new term sheet,2017 Latest Business News,Startup Stories

Indian ecommerce giant Flipkart‘s new termsheet for the acquisition of rival ecommerce firm Snapdeal holds Snapdeals investors liable for any wrongdoing in the firm. Moneycontrol reported the Snapdeal board has decided, due to inside resistance, to let all the 2 dozen stakeholders take a final call on whether to accept Flipkart’s offer.

According to sources close to the deal, the revised termsheet contains various clauses and holdbacks which imposes legal liability on the board members and values the company at around $ 80 million. According to this clause, the stakeholders will remain liable to whatever happens to Snapdeal for at least 18 to 24 months, post the merger.

The company board has decided to let all the stakeholders take a call on the acquisition following resistance from the Cofounders of Snapdeal Kunal Bahl and Rohit Bansal. An other clause in the revised termsheet also says that Flipkart will hold back about $ 150 – $ 200 million of the proposed payment, till after the merged entity is convinced there is no trouble brewing due to the merger.

Premji Invest, Foxonn, Tencent, Blackrock and Ontario Teacher’s Pension Fund are some of Snapdeal’s 25 to 28 stakeholders who will make the final decision. Moneycontrol quoted one of their sources saying, “ The discussion to allow all the stakeholders to have a say on the issue had been going on since the last few days. It came to light after the minority stakeholders started questioning the payouts promised to the majority stakeholders.”

In the past month, the private investment arm of the Wipro Chairman, Azim Premji, Premji Invests objected to the special payouts to select stakeholders including the two Snapdeal founders. The cofounders have also been pushing for alternative paths and were reportedly in talks with Infibeam for a potential acquisition. They have also been conducting one on one meetings with senior executives including heads of multiple business units hinting their reluctance to go ahead with a deal with Flipkart.

This is the second revised termsheet for the all stock acquisition sent by Flipkart. The first offer, which valued Snapdeal at $ 550 million, was rejected by Snapdeal board. The second offer for $ 850 million was sent last week.

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D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes

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StartupStories

Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.

In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.

Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.

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Centre Mulls Revoking X’s Safe Harbour Over Grok Misuse

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Grok - StartupStories

The Centre is weighing the option of revoking X’s safe harbour status in India after its AI chatbot Grok was allegedly misused to generate and circulate obscene and sexually explicit content, including material seemingly involving minors. The IT Ministry has already issued a notice to X, directing the platform to remove unlawful content, fix Grok’s safeguards, act against violators, and submit a detailed compliance report within a tight deadline. If the government finds X’s response inadequate, it could argue that the platform has failed to meet due‑diligence standards under Indian law, opening the door to harsher action.​

Under Section 79 of the IT Act, safe harbour protects intermediaries like X from being held directly liable for user‑generated content, provided they follow due‑diligence rules and promptly act on legal takedown orders. Revoking this protection would mean X and its officers could be exposed to criminal and civil liability for obscene, unlawful, or harmful content that remains on the platform, including AI‑generated images from Grok. This prospect significantly raises X’s compliance risk in India and could force tighter moderation, stricter AI controls, and more aggressive removal of flagged posts.​

The Grok episode also spotlights the regulatory grey zone around generative AI, where tools can create harmful content at scale even without traditional user uploads. Policymakers are increasingly questioning whether AI outputs should still enjoy the same intermediary protections as conventional user posts, especially when they involve women and children. How the government ultimately proceeds against X over Grok misuse could set a precedent for AI accountability, platform responsibility, and safe harbour interpretation in India’s fast‑evolving digital ecosystem.

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How Pronto Is Redefining 10-Minute Home Services in India with a $25 Million Fundraise

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Startup Stories

Home services startup Pronto is in advanced talks to raise about $25 million at a near-$100 million valuation, underscoring strong investor confidence in India’s fast-growing 10-minute home services market. This potential round would be the company’s third major funding milestone after its $2 million seed and $11 million Series A in 2025, backed by marquee investors such as General Catalyst, Glade Brook Capital, Bain Capital and new participant Epiq Capital. The fresh capital is expected to further strengthen Pronto’s positioning as a leading tech-led household help platform for urban consumers.​

Pronto operates a 10-minute on-demand home-services platform that connects users with trained, background-verified workers for everyday tasks like sweeping, mopping, utensil cleaning, laundry and basic cooking. Using a hub-and-spoke, shift-based model, the startup stations workers at hyperlocal hubs, enabling sub-10-minute fulfilment and more predictable earnings compared to the informal domestic-help market. Founded in 2024 by Anjali Sardana and based in Delhi NCR, Pronto has already expanded from Gurugram into major cities such as New Delhi, Mumbai, Bengaluru and Pune, and is handling around 6,000 daily bookings with nearly 1,300 active professionals as of December 2025.​

The upcoming $25 million fundraise is expected to be used to enter more metros, deepen presence in existing neighbourhoods with additional hubs and upgrade Pronto’s technology for smarter routing, shift planning and real-time operations. A significant portion of the capital will also go into training, retention and benefits for its workforce to maintain consistent service quality at scale, especially as competition heats up from rivals like Snabbit and Urban Company in the rapid home services space. This near-$100 million valuation not only validates Pronto’s model but also highlights a broader shift toward organised, tech-driven domestic-help solutions in India’s largely informal home-services market.​

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