Flipkart made an offer of $850 million after completing due diligence on Snapdeal. The offer was only for the marketplace and does not include logistics arm Vulcan Express and e-tailing solutions provider Unicommerce
Though the preliminary offer stands rejected, negotiations between the two companies are still on.
NextBigWhat adds: Don't worry - this is part of the foreplay before the act. Snapdeal might start looking for another suitor - but very difficult to find one (and justify the valuation). Eventually they will settle with a unicornish valuation. If not Flipkart (which is forced by Softbank), who else will buy Snapdeal?
Recommended Read: Is Snapdeal the epitome of mistrust that exists in the startup ecosystem?