Flipkart quotes $900- 950 to buy troubled E-Commerce giant Snapdeal, much closer offer to $1 Billion demand by Snapdeal

Flipkart which is in race to buy troubled Snapdeal has quoted $950 m which is much closer to the $1 billion demanded by latter for the deal, reported Reuters in its report.

Reuters cited two sources close to the deal and said Jasper Infotech has given its approval to sell the E- Commerce business to Flipkart at the quoted prices of $950 m.

Soft Bank which is also the biggest investor in Snapdeal is eager to sell the company and own stake in Flikart to earn profits from the booming Inidan E-Commerce market.

The report also said that Infibeam has also offered a deal of $700 million in shar-swap basis which was declined for being too low from the market value.

If this deal materializes, E- Commerce will be left with ponly two biggest competition including Flipkart and Amazon with other small players like Voonik, Crafts Villa and Lenskart.


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