Technoglitch
Core Member
The development, if true, assumes significance in the the light of the news that Chinese giant Alibaba is looking to acquire another market place Shopclues in its bid to gain a strong foothold in the Indian online shopping market. Interestingly, Alibaba holds a stake in Snapdeal too.
There is no confirmation on the latest Snapdeal move for now. In fact, the company has rubbished the report with a spokesperson telling TechCircle that its "so-called ‘news’ is baseless". "...We categorically deny this speculative, unfounded story,” the spokesman has been quoted as saying in the report.
Flipkart too has vehemently denied the report, while Amazon did not respond to the queries, says the report.
However, a person in the know has told the website that "only feelers have been sent (to prospective buyers)...."
Interestingly, Flipkart itself was reported to have engaged with Amazon for a possible merger earlier this year. However, nothing on that front has moved yet.
Snapdeal exploring merger with Flipkart, Amazon; mega e-commerce consolidation in the offing? - Firstpost
There is no confirmation on the latest Snapdeal move for now. In fact, the company has rubbished the report with a spokesperson telling TechCircle that its "so-called ‘news’ is baseless". "...We categorically deny this speculative, unfounded story,” the spokesman has been quoted as saying in the report.
Flipkart too has vehemently denied the report, while Amazon did not respond to the queries, says the report.
However, a person in the know has told the website that "only feelers have been sent (to prospective buyers)...."
Interestingly, Flipkart itself was reported to have engaged with Amazon for a possible merger earlier this year. However, nothing on that front has moved yet.
Snapdeal exploring merger with Flipkart, Amazon; mega e-commerce consolidation in the offing? - Firstpost