Snapdeal to acquire ShopClues in all stock deal
By MYBRANDBOOK
Snapdeal is in talks to acquire ShopClues , Snapdeal had initiated talks with ShopClues to evaluate a “potential strategic alliance”, to buy smaller online retailer ShopClues in an all-stock deal. Snapdeal has investments from SoftBank, Foxconnand Alibaba Group.
A report says, with the growing competition with the dominated players including Amazon and Flipkart, who has the deep pockets with just about 36,000 orders a month and the newer regulations by the Government of India, Shopclues had been losing momentum with its orders dropping and its investors had refused to provide any lifeline to the company.
As per the record, ShopClues had last raised funding in 2018 when a few existing investors injected Rs. 110 crore into the company. The company had last raised a sizeable amount in early 2016 in a round led by Singapore sovereign fund GIC and Tiger Global at a valuation of $1.1 billion.
Nexus Ventures that has backed both the online retailers, are looking at ways to save ShopClues from going down. If the deal materialises, there will be no cash involved and all the existing investors of ShopClues will get a share in the combined entity. A report says, both will merge into one and at the later stage, someone will come and take the both merged entity, to increased penetration in the country.
BREAKING NEWS
TECHNO TRENDS
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
HPE’s transformation into an edge-to-cloud company is its un
Hewlett Packard Enterprise (HPE) is driving towards one customer experience
Cisco committed to help build trusted, resilient future for or
Cisco is delivering on its promise of the AI-driven Cisco Security Cloud to
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
DRUVA SOFTWARE PVT. LTD.
ZOHO CORPORATION PVT. LTD.
SAMSUNG INDIA ELECTRONICS PVT. LTD.
TEJAS NETWORKS INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Deepinder Goyal
Deepinder Goyal is the Founder and CEO of Zomato. Deepinder, or Deepi,...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
Technology Icons Of India 2023: Anant Maheshwari
As President of Microsoft India, he is responsible for Microsoft’s o...
PARTNER SPEAKERS
PSU
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
VIDEOS
Top 25 Brands
Value-Added Distribution
FORTUNE MARKETING PVT. LTD.
Delhi based Fortune Marketing, An ISO 9001:2008 company, distributes ...
TECHNOBIND SOLUTIONS PVT. LTD.
TechnoBind’s business model is focused on identifying and partnering...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
