USNMix Report: Snapdeal
Talking to Acquire ShopClues.
The e-commerce platform Snapdeal is negotiating to buy its rival company Shopclues. The deal is estimated to be between $ 20 to 25 Crore.
The e-commerce platform Snapdeal is negotiating to buy its rival company Shopclues. The deal is estimated to be between $ 20 to 25 Crore.
Sources told this information.
Close sources and close to the case said that Snapdeal has started a proper process
and there may be a decision about acquisition in the next few weeks.
Snapdeal denied comment on
the whole issue
The Snapdeal spokesman
denied commenting on it, while ShopClues said that the company does not
comment on the rumors flying in the market. Both companies in the e-commerce
sector have already talked about this kind of debate but this is the first time
that the process for acquisition has been initiated.
The possibility of a deal to
be between $ 200 - 250 million
The sources associated with
the case said that the deal will be fully based on the shares and the deal is
likely to be in the range of $ 20-25 Crore. ShopClues investors include
Singapore's official property fund GIC, Helion Ventures Partners, Tiger
Global, Nexus Venture Partners. After the deal is likely to be outside of them.
If this deal happens, then both companies together will be able to compete with
companies like Flipkart and Amazon in the Indian market.
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