The much awaited five day Diwali festival has already begun with Dhanteras to be marked today on November 5. During Dhanteras, it is a common practice for people to buy gold, silver, jewellery, and utensils, which is believed to act as protection against ill will and is considered auspicious, bringing[Read More…]
Tag: Snapdeal
Snapdeal increases authorised capital from Rs 10 lakh to Rs 15 crore
Jasper Infotech-owned leading e-tailer Snapdeal increased authorised capital from initial capital of Rs 10 lakh to Rs 15 crore by issuing an additional 8.82-crore shares of Re 1 face value, said business intelligence platform Paper.vc on Monday. “The company’s second Extraordinary General Meeting (EGM) for fiscal 2018-19 on August 6[Read More…]
Flipkart makes revised offer to buy rival Snapdeal
Leading e-commerce Company, Flipkart is believed to have sent a revised offer of $900-950 million that is approximately (Rs 5,466 crore) to buy a smaller rival, Snapdeal. The Bengaluru-based firm has offered to pay the said amount for buying troubled e-retailer Snapdeal’s online marketplace and Unicommerce, two people privy to the[Read More…]
Paytm signs deal to acquire FreeCharge
Paytm is ready to buy rival digital payment platform FreeCharge as it has signed a non-exclusive term sheet to acquire it. It is set to buy this Snapdeal-owned company, in what is expected to be an all-cash deal. According to people who are closely associated with the developments, Paytm will[Read More…]
Snapdeal in talks for a potential sale
Indian e-commerce company Snapdeal after having struggled to raised funds is in talks with Paytm-E-Commerce and Flipkart India for a potential sale as per LiveMint reports. However, the talks are still in its initial stages, Japan’s SoftBank which has invested roughly $900 million of the $2 billion or so raised by Snapdeal,[Read More…]
Commerce Ministry to probe complaints on Snapdeal
Snapdeal to lay off 600 employees
Snapdeal Indian e-commerce company based in New Delhi will lay off around 600 people across its e-commerce, logistics and payments operations over the next few days, reports say. According to reports, the company has already started the process last week and will lay off 500-600 people across Snapdeal, Vulcan (logistics)[Read More…]
BJP IT cell pressurised Snapdeal to dump Aamir Khan, claims former volunteer
Following the “intolerance” remarks made by Aamir Khan at the Ramnath Goenka Excellence in Journalism Awards ceremony, BJP social media cell organised a campaign to pressurise e-commerce platform Snapdeal to remove Khan as its brand ambassador. The revelation has been made by a former volunteer, Sadhavi Khosla, of BJP social[Read More…]
Flipkart, Amazon, Snapdeal gear up for mega war
As festive season of October is nearing e-commerce big wigs like Amazon India, Flipkart and Snapdeal are gearing up for their flagship annual sale. Amazon India has announced that it would run its sale season from October 1 to 5 while Flipkart and Snapdeal will have launch their sales from[Read More…]
Flipkart adds Jabong, becomes the biggest fashion destination in India
Flipkart announced its acquisition of Jabong from Global Fashion Group for an undisclosed amount on Tuesday. Other competitors which wanted to take over the fashion portal included Future Group, Snapdeal and Aditya Birla’s Abof. This makes Flipkart the biggest fashion shopping destination in India. Co-founder of Flipkart Sachin Bansal took[Read More…]