The corporate-backed online marketplace is reportedly holding out for $1bn, having rejected an acquisition offer of between $550m and $900m.
Snapdeal, an India-based e-commerce company that counts corporates SoftBank, eBay, Alibaba, Foxconn, Intel and Myriad as investors, has turned down a nine-figure offer from counterpart Flipkart, according to several outlets.
Flipkart’s offer was sized between $550m, according to Moneycontrol, and $800m to $900m, according to the Economic Times, which cited people briefed on the matter. Livemint reported the amount as “roughly” $700m to $750m, citing three people familiar with the matter.
Bloomberg reports the Flipkart offer was sized at $850m,…
