We have been seeing news about Amazon in the recent days but there is another bigger rival which is slowly moving it’s coins to consolidate. After buying out Myntra and Jabong, Flipkart has now almost closed the deal in acquiring Snapdeal. It is noteworthy to note than Snapdeal has acquired Freecharge earlier. The deal will make Flipkart to bring in two major brands under its fold – one from the eCommerce and other from Payments platform.
The Board of Directors of Jasper Infotech Pvt Ltd which operates Snapdeal met yesterday to take forward the deal which has got more support that dissent. Having said that we could expect a formal announcement to be made very soon.
It is also noteworthy to recollect that Flipkart has already initiated talks to acquire eBay India as well. Once all these goes through, the Indian Market will only have Flipkart, Amazon and Shopclues as major eCommerce players though Shopclues is relatively a smaller company when compared with the other two.
This will give better muscle power to Flipkart which is facing tough competition with Amazon.