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Flipkart-Myntra Merger (23 May 2014) : RIL Buys Network18 Group For Uo To Rs 4,000 Crore (30 May 2014)
Flipkart-Myntra Merger (23 May 2014) : RIL Buys Network18 Group For Uo To Rs 4,000 Crore (30 May 2014)
The huge and most talked about takeover or acquisition of the year. Two of the major ecommerece companies merged to create an entity with annual sales of $1.5 billion. Myntra
has been valued of about Rs 2,000 crores . Myntras co-founder Mukesh bansal will join
flipkarts boardand will look into flipkarts fashion business. Flipkart and Myntra will remain
separate enitities but people holding myntras stock options will hold the same in flipkart.
Their combined might also places them in a better position to take on the likes of Amazon,
which has become increasingly aggressive in India's booming e-tailing market.
TheFind was co-founded in 2006 by CEO Siva Kumar and CTO Shashikant Khandelwal,
both native Indians. TheFind previously raised $26 million in three investment rounds, but
had not received an influx of cash since 2007.