Update: Managing Director of VC firm Kalaari Capital, Vani Kola has tweeted that the reports about Snapdeal rejecting Flipkart's buyout offer are false. Kalaari Capital is one of the earliest investors in Snapdeal. Rejected! Snapdeal dismisses Flipkart's #ETBrandEquity. media and unethical false reporting. invest in startup that can filter fake facts — Vani Kola (@VaniKola) July 5, 2017 Earlier: Snapdeal's board has apparently rejected an offer worth $700-750 million from Flipkart, reports Livemint. This is markedly lower than the reported $1 billion offer Flipkart had initially made for Snapdeal's business. However, looks like there is no consensus regarding the value of the latest offer, because according to this The Economic Times report the buyout offer is estimated to be about $800-900 million, while PTI reported that the offer was in the $800-850 million range. (Nikhil adds: In either case, the story here is that the offer has been rejected - so far - and although it could be a part of a negotiation. I'm reminded of the number of Flipkart-Myntra stories during the time that that deal was happening, and it almost felt as if information was being leaked publicly in order to impact the deal.) This offer was only for Snapdeal's marketplace business, and does not include the payments business, Freecharge, or the logistics business, Vulcan Express. As per the report, the deal is not off yet, but will depend on negotiations between Softbank Group and Tiger Global Management, the majority stakeholders of Snapdeal and Flipkart respectively. We've written…
