Corporate Valuations - News Game of Stakes: SoftBank pulls out of a $150-$200 mn deal in Snapdeal



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Game of Stakes: SoftBank pulls out of a $150-$200 mn deal in Snapdeal


Date: 3-April-2017

In the latest development over the board room tussle between Snapdeal and its investors over its valuation, its biggest stakeholder SofBank has backed out of a $150-200 million debt financing agreement.Softbank—which holds about 33% in Snapdeal—and its early investors Kalaari Capital and Nexus Venture Partners—which each hold 8% and 10% respectively—have been battling with one another over Snapdeal’s valuation in a funding round that the firm badly needs. The Japanese Internet conglomerate wanted to fund the Delhi-based e-tailer in a downround that would value it at less than half of its current valuation of $6.5 billion,The e-commerce firm has also been exploring potential merger or sale talks with either Paytm or Flipkart, however, these are still at the preliminary stages.

 
 
 
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