After a huge deal of negotiation talks with Flipkart regarding a merger of the two companies, Snapdeal has finally decided to go solo, terminating the whole exhausting process which had been going on for the past 5 months.
“Snapdeal has been exploring strategic options over the last several months. The company has now decided to pursue an independent path and is terminating all strategic discussions as a result,” the company said, leaving out its rival, Flipkart.
Its two co-founders, Kunal Bahl and Rohit Bansal, wrote a joint letter to all of their employees, stating that a lot of time and effort has gone into the process from all participants, leading to intense speculations and uncertainty for the team, partners and shareholders.
“And now it is time to finally put an end to this saga. We will be continuing the Snapdeal journey as an independent company,” they said. The two are now looking forward to a new direction: Snapdeal 2.0. –News Source
