Flipkart might buy Snapdeal for $400 mn, not $1 bn: Report

According to reports, e-commerce major Flipkart is looking to buy competitor Snapdeal for $350-400 million. This comes after reports in May suggested that Flipkart had offered to buy Snapdeal for $1 billion in an all-stock deal. The $400 million figure is a near 94% discount to Snapdeal's $6.5 billion valuation when it last raised money in 2016.