Flipkart revises offer to buy Snapdeal
Flipkart has made a second bid for troubled online marketplace Snapdeal — estimated at about $850 million — two weeks after its initial offer was rejected. The revised bid, which is believed to have been cleared by Flipkart’s board during the weekend, was formally communicated to the Jasper Infotech board late on Monday, according to two sources briefed on the matter. The revised bid comes after the Jasper Infotech board rejected Bengaluru-headquartered Flipkart’s initial offer of $500-$600 million made earlier this month. The bid of $850 million is believed to be for online marketplace Snapdeal, logistics business Vulcan Express and online order management business Unicommerce eSolutions. Flipkart’s revised bid also comes about two days after Infibeam Incorporation, the country's only listed ecommerce company, denied that it had reached out to the Jasper Infotech board for a potential merger between the companies. Ahmedabad-based Infibeam’s all-stock bid, according to two people aware of developments, was estimated to be about $1 billion (Rs 6,652.75 crore). In a statement to the stock exchanges on Friday, Infibeam called