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Snapdeal founders move to calm employees amid takeover speculation

April 9, 2017 By Sankalp Phartiyal and Aditya Kalra MUMBAI (Reuters) – The founders of India’s Snapdeal told employees in an email on Sunday that the e-commerce company will ensure there is no disruption to staff “as the way forward becomes clear,” as speculation of a takeover swirls. The email, seen by Reuters, tacitly acknowledged that a sale of the company could be in the offing, and it sought to calm the concerns of employees at India’s No. 3 e-commerce player. Snapdeal has for weeks been at the center of…

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India’s Snapdeal searches for funds, takeover speculation grows

March 24, 2017 By Sumeet Chatterjee and Sankalp Phartiyal HONG KONG/MUMBAI (Reuters) – Indian online retailer Snapdeal is seeking investment to shore up its finances after unsuccessful talks with Chinese funds and Alibaba Group Holding Ltd as it battles to remain competitive, sources with direct knowledge of the matter said. Faced with the prospect of falling cash reserves and little interest from existing investors such as Japan’s Softbank and U.S. hedge funds, Snapdeal is now increasingly being seen as an acquisition target, they said. “Snapdeal has been desperately looking to…

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