Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Flipkart reportedly in talks to buy Snapdeal

Published by Business Insider on Thu, 06 Apr 2017


This story was delivered to BI Intelligence "E-Commerce Briefing" subscribers. To learn more and subscribe, please click here.India-based e-commerce company Flipkart might be acquiring Snapdeal, one of the larger e-commerce marketplaces in the country, in as little as two weeks, according to Forbes India.SoftBank, a major investor in Snapdeal, may purchase a part of the stakes owned by other investors, which include Tiger Global Management and Nexus Venture Partners, in order to move the deal forward. Some stakeholders are reportedly resistant to a sale, as Snapdeal's valuation may have fallen from $6.5 billion last February to $1 billion.Snapdeal has had significant difficulties managing costs. In February, the company laid off 600 employees, and its founders announced they'd give up their salaries to cut costs ' it reported $465 million in losses for its fiscal year ending March 31, 2016. The company hasn't been able to establish a lead in a market with high margins, making it unable to address its profitability issues. Meanwhile, market leader Flipkart has a 70% market share in apparel, and only Amazon challenges it in the electronics category.The fact that Snapdeal operates solely in India has hindered the company's growth. India has low internet penetration and a largely unbanked population, making it difficult for e-commerce companies to attract much of the population. Additionally, India's turnover rate in the e-commerce space is high, with voluntary attrition rates reaching 20.4% in 2016. Numerous senior executives have left Snapdeal, making it challenging for the company to develop and execute sound strategies. Snapdeal also faces intense competition from retail giants Alibaba and Amazon, which have vast capital to draw on and stable leadership.To receive stories like this one directly to your inbox every morning, sign up for the E-Commerce Briefing newsletter.Click here to learn more about how you can gain risk-free access today.Join the conversation about this story
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Daily News 24  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs