Flipkart makes $1 bn acquisition offer to Snapdeal

Flipkart has offered to buy smaller rival Snapdeal for $1 billion in an all-stock deal. Snapdeal’s biggest investor SoftBank has proposed to give early investors Nexus and Kalaari $60 million and $30 million respectively. Snapdeal founders Kunal Bahl and Rohit Bansal have been offered $15 million each, with an additional $30 million for the Snapdeal team.