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Snapdeal cofounder Kunal Bahl seen shopping on rival Amazon
In a post on X, Bahl sought recommendations for a good squash racket in India. One of his followers replied with a suggestion, to which Bahl replied with a screenshot of the product he bought, which is seemingly that of Amazon's website.
PE, VC funds in a bind; OpenAI goes deep
Sebi’s regulations regarding preferential treatment of large investors pose a dilemma to private equity (PE) and venture capital (VC) firms. This and more in today’s ETtech Top 5.
Snapdeal drops ₹1,250 crore IPO plan citing 'prevailing market conditions'
E-commerce player Snapdeal has shelved its plan for IPO through which it was planning to issue fresh equity shares worth Rs 1,250 crore amid weak market conditions, the company has said.
Snapdeal's CFO Anup Vikal puts in his papers
Vikal led the failed acquisition talks on behalf of the ecommerce marketplace with Flipkart and was reportedly in favour of the deal going through
Ex-Housing CEO in fray for WeWork top job
When asked about the development, a SoftBank spokesperson said, “We don’t comment on speculation.”
Snapdeal to kick-start the festive season with 8-day ‘Snap-Diwali’ sale
The first sale, coinciding with Navratri festivities, will run from September 29 to October 6.
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Anand Piramal invests in a resurgent Snapdeal
Snapdeal's 2.0 strategy has allowed it to rapidly build a differentiated business, with a sharp focus on value-priced merchandise – the largest segment in retail.
Infibeam, Snapdeal terminate Unicommerce deal
It had said the acquisition would boost its e-commerce enablement capabilities and expand the product offerings for existing clients.
Snapdeal looks for Artificial Intelligence experts to tackle e-commerce challenges
Some key issues that could be taken include ability to personalise search results to suit customer's requirements and minimisation of fraud on e-comm platforms.
Snapdeal turns cash-flow positive in June; to reinvest for growth
In an internal letter shared with employees and their families, founders Kunal Bahl and Rohit Bansal said the ecommerce firm had turned cash-flow positive in the month of June, becoming the only Indian ecommerce firms to achieve this.
Sellers move courts against Snapdeal for non-payment of dues
At least two sellers have dragged Snapdeal’s owner Jasper Infotech to courts for non-payment of dues. Snapdeal founders are also party in the case.
Kalaari Capital looks to sell its stake in Snapdeal for Rs 50 crore
Kalaari Capital could sell its stake in Snapdeal for Rs 40-50 crore, signalling a massive haircut for a holding worth over Rs 3,000 crore when the company was valued at $6.5 billion.
Future Supply Chain Solutions buys Vulcan Express for Rs 35 crore
The sale of Vulcan is the second such by Jasper Infotech over the last six months, as it continues to shed, what have been deemed as non-core assets.
Future Group in talks to buy Snapdeal’s logistics arm
Vulcan Express, which manages about half of Snapdeal’s deliveries and shipments, replaced gojavas as the primary logistics partner when it was formed about three years ago.
Foxconn comes to terms with 80 per cent Snapdeal loss
FIH Mobile, the Hong Kong-listed unit of Foxconn, recognised an impairment loss of $160 million related to its investment in Jasper Infotech, which owns and operates Snapdeal.
Flipkart acquisition of Snapdeal collapses as latter decides to go ahead alone
ET had reported that Snapdeal was likely to go forward as an independent entity, with a 2nd offer to merge with listed co Infibeam, also not anticipated to take place.
When Mobikwik's Bipin Preet Singh came forward to support Kunal Bahl's plans for Snapdeal 2.0
Support from the community has been pouring in for Kunal Bahl and Rohit Bansal.
Early investors including Nexus onboard with Snapdeal reboot
However, some other investors, including long-term backer Kalaari Capital, have expressed displeasure over the latest decision.
'Snapdeal 2.0' could leave company with 500-600 staffers
After turning down Flipkart's USD 900-950 million offer earlier this week, the e-commerce firm has started working on its new roadmap which it calls 'Snapdeal 2.0'.
Snapdeal's first investor Kenneth Glass backs founders
Kenneth Glass, one of the first investors in Snapdeal said in an email statement that he is excited about the company introducing Snapdeal 2.0.
Employees get the unkindest cut in Snapdeal 2.0 reboot
Many employees are being asked to leave without notice on 1 month's salary and a month's severance package, as opposed to 3 mths severance pay promised.
Snapdeal 2.0 can log Rs 150-crore gross profit in 12 months: Kunal Bahl
Discussions to acquire the beleaguered Snapdeal by Flipkart were initiated in March but contours of the deal could not reach a finality even after several rounds.
Here's what Snapdeal founders told employees after terminating the Flipkart deal
Snapdeal founders said Snapdeal 2.0 is set to clock in gross profits of Rs 150 crore over the next 12 months.
How Kunal Bahl sold the idea of Snapdeal 2.0 and what's in store
Snapdeal 2.0 will see more layoffs, with some estimating the number to be over 1,000, decimating, a firm that at one point had a staff count of almost 10,000.
Not the end: Can unhappy shareholders bring Snapdeal-Flipkart deal back to life?
The board is split in two, with one side agreeing to the deal and the other opposing. Opposing the deal include PremjiInvest, Ratan Tata and the founders.
Snapdeal-Flipkart deal falling apart after six months of hard negotiations
Public announcement on the fate of the one of the largest e-commerce deal, orchestrated by Snapdeal’s largest investor SoftBank, could be made today.
Snapdeal to slash office space in Gurgaon by over 60%
The online retailer had moved to its Gurgaon campus less than two years ago when it leased a 4.5-lakh-sq-ft campus in Udyog Vihar to keep pace with its aggressive hiring.
Snapdeal tweaks return policy; buyers will now have to furnish document from authorised service centre
Experts said the policy may dissuade buyers from purchasing top-selling electronic items from it and divert them to rivals such as Flipkart and Amazon.
Snapdeal to simplify seller policies
In an initiative to make a sellers journey more transparent, the company is reducing marketing fees for over 120 sub-categories.
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