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
16
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


Interviews View All

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Alon Moshe,

Alon Moshe

Israel-based Twine Solutions is a technology start-up that has developed a ...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

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

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

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

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search