Home / Knowledge / News / Apparel/Garments / Kalaari's MD Vani Kola resigns from Snapdeal's board
Kalaari's MD Vani Kola resigns from Snapdeal's board
May '17
Vani Kola, the managing director of Kalaari Capital, a venture capital firm that has an 8 per cent stake in e-commerce site Snapdeal, has resigned from the board of the online marketplace. Her resignation from the board signifies that the company has reached a consensus with SoftBank regarding a settlement in the sale of Snapdeal to Flipkart.

The resignation was sent by Kola on May 2 to the board of Jasper Infotech that runs Snapdeal, according to regulatory filings with the Registrar of Companies (RoC).

Initially, Kalaari as well as Nexus Venture Partners (NVP) had refrained from giving their approval for Snapdeal's merger with Flipkart as they expected better deals. However, NVP recently gave its nod for the sale and Kola's resignation proves that Kalaari has also given its approval for the impending sale.

The founders of the e-commerce site could stand to get about $25 million each, while Kalaari is expected to get $70-80 million, according to an earlier report by Fibre2Fashion. NVP could be receiving $100 million from the deal along with a stake in the merged entity. The online marketplace has been valued at $1 billion. (KD)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: University of York

Textiles | On 30th Nov 2020

UK scientists working to reduce textile industry waste

Scientists at the University of York and the Royal College of Art are ...

Pic: Material Exchange

Textiles | On 30th Nov 2020

Material Exchange raises €5 million for sustainability

Material Exchange has announced the closing of a €5 million funding...

Pic: Shutterstock

Apparel/Garments | On 30th Nov 2020

Gap reports sales of $3.99 bn in Q3 FY20

Gap Inc, a US-based specialty apparel company, has reported its...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Manuj Terapanthi, Texaura

Manuj Terapanthi

Transparent supply chain and fair trade will boost sustainable market

Bora Akris,

Bora Akris

Realkom, headquartered in Istanbul, is a fully integrated textile company...

Yogesh Kanani,

Yogesh Kanani

Incorporated in 1999, Purani Textiless Private Limited is a leading...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Alfonso Marra, Klopman

Alfonso Marra

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Shlomzion Chen, Seevix

Shlomzion Chen

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Sonam & Paras Modi, SVA

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

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


Leave your Comments

November 2020

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

Advanced Search