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Wednesday, February 1, 2017

Flipkart may sell itself to Amazon

According to news Flipkart is considering selling itself to popular Amazon. The talk happened in last quarter of 2015. But Flipkart denied the report.

Flipkart new CEO Binny Bansal said, All rumours of potential sale and down rounds are false and baseless. Flipkart continues to be the market leader in India and we are in this business for the long haul.

Also read: US based Razer acquired Nextbit

Flipkart also started negotiation with Alibaba group for fresh round of funding. Alibaba is an investor in both Paytm and Snapdeal.

But according to sources, Amazon made a preliminary offer of up to $8 billion to acquire Flipkart.com. According to news an offer of a little over $5 billion was made for Flipkart's commerce business while some $3 billion was pegged for its logistics business.

But If Alibaba takes a stake in Flipkart, and decides to merge all three companies (Flipkart, Paytm and Snapdeal) that may put Amazon in a tough spot.

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