Jasper snaps Flipkart deal, on solo path now

The Snapdeal Flipkart deal is a win for founders Kunal Bahl and Rohit Bansal as they were against SoftBank’s push for Snapdeal sale to Flipkart from the very beginning

The Snapdeal Flipkart deal is a win for founders Kunal Bahl and Rohit Bansal as they were against SoftBank’s push for Snapdeal sale to Flipkart from the very beginning

According to sources, the Gurugram-based company rejected Flipkart's $950-million buyout offer due to differences in valuation.However, Snapdeal has not officially stated this as the reason. Founders Kunal Bahl and Rohit Bansal were keen on an alternative option of running Snapdeal independently and have managed to hold their own against Softbank. "The company has now chose to pursue an independent path and is terminating all strategic discussions as a result", Snapdeal spokesperson said in an emailed statement to PTI, without naming Flipkart.

Snapdeal has seen its fortunes dwindling in the face of stiff competition from Amazon and Flipkart. Bahl and Bansal together own a 6.5% stake in Snapdeal, while Kalaari Capital owns less than 8% and Nexus Venture Partners" about 11%.Snapdeal last week sold its mobile wallet Freecharge to Axis bank for "385 crore in an all-cash deal.

Check on Trading Lines For Workspace Group PLC (WKP.L) Shares
The stock was purchased at an average cost of GBX 50 ($0.65) per share, with a total value of £100,000 ($130,276.19). The Company's operating segments include Motor, Home, Rescue and other personal lines, Commercial and Run-off.

The likelihood of a Snapdeal-Flipkart deal is fast fading as SoftBank is losing patience given it has been dragging on even after over six months of negotiations, one of the sources said.

Snapdeal declared that after selling few non-core assets, they are expecting to be self-sustainable. It later carried out a rebranding exercise, slashed its workforce and started serious talks with Flipkart for a sale. The deal was also contingent upon a nod from Snapdeal's high-profile minority investors, including Ratan Tata. "The company may still look to further reduce employees depending on the market condition then", industry experts said. "We have a new and compelling direction - Snapdeal 2.0 - that uniquely furthers this vision, and have made significant progress towards the ability to execute this by achieving a gross profit this month", a said spokesperson said in a statement. "With all strategic conversations coming to an end the company can now focus on the actual business", the person said.

Jamal Adams, Morris Claiborne willing to "die" on football field
Given that an awkward round of applause emerged after Adams said what he said, I think maybe people did take it directly. Morris Claiborne is serious about continuing to play football, even if he's well aware of the health risks involved.

Snapdeal looked certain to be Flipkart's next big acquisition and usher in a duopoly era in the e-commerce sector with Flipkart and Amazon the only two remaining big players. Snapdeal has let go of 600 employees in the last month without any notice and only one month's severance package.

The company does not need additional funding and has a clear roadmap to making upward of 1.5 billion rupees ($23.4 million) in a year, Bahl wrote in his email to staff. A constant flow of external funding has become an essential part of Flipkart's strategy to effect a turnaround and stay relevant in its all-out war with the fund-flushed USA e-commerce behemoth Amazon.

American Airlines Group, Inc. (NASDAQ:AAL) Rating Lowered to Hold at BidaskClub
The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Last time, the company shocked Wall Street by reporting EPS of $1.24, smashing the consensus of $1.20 per share.

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