Page 6 - Snapdeal

Snapdeal founders, NVP invest Rs 113 crore in parent company

> E-commerce firm Snapdeal founders Kunal Bahl, Rohit Bansal and existing investor Nexus Venture Partners have together infused Rs 113 crore into the company ahead of its potential sale to larger rival Flipkart. Both Bansal and Bahl have invested invested Rs 8.45 crore each, while Nexus Venture Partners has invested Rs 96.2 crore into Snapdeal, company said in its filings with the Registrar of Companies on Monday. It isn't clear why the investment was made or what it could mean, but was approved at an Extraordinary General Meeting of the company held on March 10. The founders along with Nexus were offered 17,410 Series J1 preference shares for their investments, said the disclosure which comes at a time when Flipkart has begun doing due diligence to acquire the firm. Softbank, the largest investor in Snapdeal, has pushed for the company's sale to Flipkart for which the latter signed a term sheet last week. The Japanese investor had written off a $1 billion in losses from Snapdeal .

Snapdeal founders pledge $30 mn of payout for staff

Value of Snapdeal shares and options has eroded and will be nil once the deal is signed

Nexus finally gives in, Snapdeal ready to merge with Flipkart

The transaction is through and an announcement could come anytime within the next 72 hours

Snapdeal founder Kunal Bahl, others summoned for usurping marketing concept

Additional Sessions Judge issued notice to Kunal Bahl, Rohit Bansal and its former CFO Vijay Ajmera

Snapdeal tries to calm employees with 15% pay hike, amid sell-off fears

Pay revision effective April 1; firm also said to be distributing 1% of its stock to 150 staffers

Layoffs, stock option concerns: Snapdeal founders look to calm staff nerves

Employees with stock options now fear their options may be worthless with the sale to Flipkart

Full text of email: Snapdeal founders calm staff amid takeover speculation

In the e-mail, Snapdeal's founders said their priority was to ensure the well-being of employees

Snapdeal founders promise more pay to staff amid takeover speculation

Says their 'top and only priority was the well-being of the entire team'

Well-being of entire team our top priority: Snapdeal's Bahl writes to staff

Bahl sent an email to his team members

Softbank readies Snapdeal for merger with Flipkart at a valuation of $1 bn

At $ 6.5 billion valuation, Snapdeal, once the second biggest online marketplace in the country, was the only unicorn in India that remained unscathed in last year's mark downs by global mutual funds. Now, the firm might just manage to get less than a sixth of the valuation when it is merged with larger rival Flipkart. Sources said that the deal might happen within the next three weeks. The move led by its largest investor Softbank, after months of hectic parleys, heated discussions, scrapping proposals, could value Snapdeal at around $ 1 billion. According to four people in know of the developments, after Jasper Infotech Limited the holding company of Snapdeal, board of directors were not able to reach a consensus on the terms of sale on Tuesday's meeting, a new proposal with tweaks is being prepared by Softbank and would be sent to the board in the next few days.Kalaari Capital and Nexus Venture Partners the two early stage investors in Snapdeal, want Softbank to value not just the .

SoftBank preps Snapdeal for sale, looks to buy Kalaari, Nexus stakes

Such a move would allow SoftBank to consolidate its ownership position

No Snapdeal sale to Flipkart for now as SoftBank fails to convince board

The Tokyo-based telecom and investment major holds the largest 33% stake in Snapdeal

Snapdeal looking to raise $100 million from SoftBank, other investors

About $100 million plus is what we need, until we start being independent: Anup Vikal CFO Snapdeal

SoftBank's Lydia Jett joins Snapdeal board

In a time when Tokyo based telecom and investment major SoftBank is finding it tough to convince fellow investors to sell off Gurgaon based online marketplace company Snapdeal, SoftBank Group Corp's Lydia Bly Jett has joined the board of Jasper Infotech. SoftBank which invested around $900 million in Snapdeal and is the major stakeholder in the company as well as digital payments platform Freecharge has sent Jett as an additional director.According to company documents sourced from Tofler, SoftBank Group's chief operating officer Jonathan Bullock resigned from the board in February 2017 followed by the appointment of managing partner Kabir Misra on 10 March. Jett's appointment is the third board movement from SoftBank to Snapdeal. The move comes at a time when the company is facing financial woes of its own.SoftBank owns around 33 percent of Jasper Infotech and is the largest stakeholder in Snapdeal. Other than Snapdeal, Bullock had also stepped down from the boards of ANI ...

Under pressure, Snapdeal woos employees with promises of profit

Snapdeal clocked up losses of $456.5 million in the financial year to March 31, 2016

Snapdeal sounds out SBI Caps, Kotak Capital, 3 others for IPO

IPO is likely to hit the market in second half of 2019

Kalaari, Nexus prove stumbling blocks in Softbank's bid to exit Snapdeal

Early-stage investors said to be 'livid' over valuation at which SoftBank wants to exit Snapdeal

Anti-fraud steps to save Rs 3 crore/month for Snapdeal

Snapdeal said range of initiatives launched using analytics are accruing massive cost savings

Snapdeal seeks funds after talks with Alibaba fail, takeover buzz grows

Snapdeal, however, stressed that it has no intention of selling the company

SBI advises some 100 Snapdeal sellers to cut outstanding loans

Snapdeal had launched the capital-assist programme to make credit available for sellers in 2014