Snapdeal has rejected the Flipkart Offer | Technotok
Ending weeks of speculation and doubt, Snapdeal has decided to kill all merger talks with Flipkart and others. In a bold, and somewhat brave decision, Snapdeal has decided to pursue an ‘independent’ path, wherein they will fight the eCommerce battle alone.
This also ends all rumours about incoming ‘consolidation’ in the e-commerce sector.
In their official statement, Snapdeal said, “Snapdeal has been exploring strategic options over the last several months. The company has now decided to pursue an independent path and is terminating all strategic discussions as a result,”
Calling themselves as Snapdeal 2.0, the statement infuses a new way and a new future for Snapdeal. The statement said, “Snapdeal’s vision has always been to create life-changing experiences for millions of buyers and sellers across India. 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.”
