Snapdeal Board Divided: Founders walk away from Flipkart merger: Two big Indian E-commerce names are getting trend again and again. As you all know that a few times back sources confirmed that Snapdeal is all set to sell out to Flipkart. Even the sources confirmed that Flipkart came up with an exciting deal of around $950 million which is luckily a very fear deal to all shareholders of Snapdeal. Now, when everything is perfect something big came up which changed the whole game for these two big companies.
As per the reports, Snapdeal founders Kunal Bahl and Rohit Bansal are not in a mood of selling their product. Reports are coming that they both wanted to work on some new ideas and they both are set up for the Snapdeal 2.0 and they want it because this version is going to be a leaner version. Also, they are not in a mood of any deal and wanted to work independently. Sources are saying that from the very beginning they both are against selling the company.
On the other hand, Snapdeal’s largest shareholder Softbank and many other shareholders are in a mood of selling out the company. Sources are saying that whole board of director’s team of Snapdeal is divided into two parts. Well, on the part which includes Softbank and other big shareholders want to sell it out. On the other hand, PremjiInvest, Ratan Tata, and the founders are not in a mood of selling it.
Well, you can expect that maybe founders have to lose their side because most of the shareholders want to sell it out. Reports are saying that when Kunal Bahl and Rohit Bansal walked away from the deal everyone was very disappointed. Even the shareholders sent a lot of emails to the company about their worries. Some Shareholders said, “created no shareholder value”.
No doubt! That this whole drama is going to be big news for the nation in upcoming days. We are going to update you on everything which is going to happen in upcoming days. We are sure that Snapdeal or Flipkart on of them are going to get good profit or lose in upcoming days.