Home / Knowledge / News / Apparel/Garments / Snapdeal CEO refutes Alibaba stake sale rumour
Snapdeal CEO refutes Alibaba stake sale rumour
Sep '14
Dispelling rumours that Chinese ecommerce giant Alibaba which recently raised $22 billion through an IPO, might invest in its Indian rival Snapdeal, the Indian online company said it is not up for sale, but is actually looking for acquisitions.

Snapdeal CEO and co-founder Kunal Bahl told Financial Chronicle, "We are actively talking to two-three e-commerce companies for acquiring them".

“China's Alibaba has been in talks with Snapdeal as it looks to enter India's booming online retail industry, according to two people aware of the development,” the Economic Times reported a few days back.

“Alibaba is considering an investment in Snapdeal as one of its options while it sizes up the online consumer market in this country,” Economic Times quoted a person directly aware of the matter.

Snapdeal, which has around 5,000 businesses selling their products on Snapdeal.com, said it is targeting 1 million businesses that would be selling products through Snapdeal.

“Nothing has yet been finalised,” Bahl told Financial Chronicle, adding the company plans to do the acquisition through internal accruals.

Bahl declined to give further details on the companies he is talking to for acquisition.

Earlier this year, Snapdeal raised $233 million in two rounds of investments from eBay and Azim Premji's family office Premji Invest.

Last month, former Tata Group Chairman Ratan Tata too bought a small stake in Snapdeal.

Economic Times said Snapdeal is also attracting attention from Japan's largest ecommerce company Rakuten and communications provider SoftBank, which is the single largest investor in Alibaba with a 32% stake. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Apparel/Garments | On 26th May 2017

Christian Dior, Nike top apparel companies - Forbes

Christian Dior, Nike, and Inditex have topped Forbes' 2017 Global...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search