• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, June 24, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Kalaari Capital Unhappy with Snapdeal’s Decision

by Chinmay Bidkar
August 3, 2017 - Updated On September 24, 2017
in News
Reading Time: 2 mins read
0
kalaari capital unhappy snapdeal
TwitterWhatsappLinkedin

kalaari capital unhappy snapdeal

You might also like

Kazam Raises $6.2M Series B to Power India’s EV Charging Future

InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

Truth Social Targeted in Cyberattack After U.S. Strikes on Iranian Nuclear Facilities

03 July 2017, India:

One of the early investors Kalaari Capital has expressed disappointment over Snapdeal latest decision to call off the merger with one of the leading e-commerce marketplace Flipkart.

Vani Kola, Managing Director of Kalaari Capital told ET, “I maintain my stand that the decision to terminate the deal was not supported by Kalaari and also reiterate that the deal was called off without prior notice to us.”

Vani Kola had resigned back in May 2017 from the board of Snapdeal as she felt her services were no longer needed. Kalaari Capital is one of the initial investors in Snapdeal. Kola was the sole representative for Kalaari Capital on the Snapdeal board. Bengaluru-based Kalaari Capital, which had invested about $27.5 million in the Gurgaon-based online marketplace, holding about 8% stake held powerful voting rights under its shareholder’s agreement. Kola had been part of the Snapdeal board since the beginning, that is September 2009. Snapdeal was launched in February 2010.

Related read- Jugnoo – Turning Profitable or Laying Off Employees as It Can’t Afford to Keep Them?

Kunal Bahl along with Rohit Bansal, started Snapdeal with the widest assortment of 35 million plus products across 800 plus diverse categories from over 125,000 regional, national, and international brands and retailers. With millions of users and more than 300,000 sellers, Snapdeal is the shopping destination for Internet users across the country, delivering to 6000+ cities and towns in India.

After the merger being called off, Snapdeal plans to lay off 1,000 employees, that is equal to 80% of the total workforce.

Kunal Bahl and Rohit Bansal have firmly instructed their business and technical heads to restructure their teams and begin the paperwork for their layoff. This is massive, but it was coming. Out of 1,200 employees, only 200 have survived the job cuts.

Back in July 2016, Snapdeal had over 9000 employees, but the company asked about 7,800 people to leave without any notice. The employees were given one month’s salary and one month’s severance package, as opposed to three month’s severance pay, promised in February. (Image- Vani Kola, Twitter)

Also read- Top-level Executives Quit Post Snapdeal-Flipkart Merger Havoc

Tags: ecommerce newsIndian E-commerceKalaari Capitalkalaari capital unhappy snapdealNexus Venture PartnersSnapdeal 2.0snapdeal boardSnapdeal-Flipkart mergerVani Kola
Tweet54SendShare15
Previous Post

7 Advantages of Using Salesforce as Your CRM System

Next Post

Bajaj Finance Picks Up 10.83% Stakes in MobiKwik for Rs. 225 crores

Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

Recommended For You

Kazam Raises $6.2M Series B to Power India’s EV Charging Future

by Ishaan Negi
June 24, 2025
0
Kazam Raises $6.2M Series B to Power India’s EV Charging Future

In a resounding vote of confidence for India’s green mobility ambitions, Kazam, one of the country’s fastest-growing EV energy-tech startups, has raised $6.2 million in Series B funding....

Read more

InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

by Ishaan Negi
June 24, 2025
0
InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

In a bold move that signals rising investor confidence in India's next-generation financial services, Nikhil Kamath and Nithin Kamath—the visionary co-founders of Zerodha and True Beacon—have acquired a...

Read more

Truth Social Targeted in Cyberattack After U.S. Strikes on Iranian Nuclear Facilities

by Harikrishnan A
June 24, 2025
0
Challenges Mount for Truth Social as Financial Struggles Emerge: Can Trump’s Social Platform Weather the Storm?

Tensions between Iran and the United States have escalated beyond the battlefield and into cyberspace, as Iranian-aligned hackers targeted former President Donald Trump’s social media platform, Truth Social,...

Read more
Next Post
bajaj finance mobikwik

Bajaj Finance Picks Up 10.83% Stakes in MobiKwik for Rs. 225 crores

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?