Diabytes
Kalaari Capital News
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One of the leading contenders in the Indian e-tailing segment, Snapdeal has seen its fortunes failing amid strong competition from Amazon and Flipkart.
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The beleaguered firm has a number of investors including PremjiInvest, Ontario Teachers' Pension Plan, Ratan Tata, Foxconn, Temasek and BlackRock among others.
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Japanese firm SoftBank on Tuesday could not manage a crucial nod from co-investor Nexus Venture Partners (NVP) for the sale of Snapdeal, possibly to Flipkart.
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At a board meeting of Jasper Infotech, SoftBank showed interest in buying a part of the stake owned by Kalaari and Nexus.
The funding will help the 2-year-old company aggressively expand its video production unit.
Venture capital firm Kalaari Capital on Monday said Tata Group's chairman emeritus Ratan Tata will be joining the company in an advisory role.
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