comscore Myntra reportedly open for acquisition, in talks with Flipkart
News

Myntra reportedly open for acquisition, in talks with Flipkart

Myntra-Logo (1)

Myntra-Logo (1) Also Read - Flipkart Black Friday sale: 5 best smartphone deals you must consider

Also Read - Flipkart Black Friday Sale is an endless list of asterisks with no real savings

Myntra s CEO has reportedly hinted towards a possible acquisition by Flipkart. Myntra s co-founder and CEO Mukesh Bansal has said that the company is eyeing for an investor, who would invest the desired money as well as help the company function as an autonomous entity even after the deal happens, ToI reports. Though Bansal has not mentioned anything about the prospective investors, he has hinted towards the company s possible acquisition with Flipkart. Also Read - Toshiba Ultimate 4K TV Review (50U5050)

The company is open to get into a strategic partnership with an investor who can invest $100-150 million in to the company over the next two years. “I’m open to the idea of a strategic (investor) if the DNA is similar, and the investor has a deep technology know-how with a vision to grow Myntra over the next 5-10 years,” Bansal told the publication.

Company insiders have told the publication that it was due to the clash of interest of the Myntra s investors in FlipKart, that this buyout deal took so long to be finalized. So while two of the companies common investors namely Accel Partners and Tiger Global were pushing the deal to happen, smaller investors including IDG Ventures and Kalaari Capital in Myntra were not interested. However, the investors and the management team of Myntra have now taken a mutually agreeable decision and are likely to make an announcement in this month.

Myntra is aiming to achieve Rs 20,000 crore in sales (gross merchandise value) by 2020, up from its current Rs 800 crore, and is working on building multiple hundred million-dollar private brands in the coming years. Flipkart on the other hand is the leader in the e-commerce space in India and had recently announced achieving $1 billion in sales.

Reportedly, Myntra wants to have an independent structure and would like to retain its team even after the acquisition. Also, Bansal, who holds around 9 percent of the company s share, is likely to stay on with his shareholding in the company.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel.
  • Published Date: April 7, 2014 3:51 PM IST



new arrivals in india

Vivo V20 Pro
Vivo V20 Pro

29,990

Xiaomi Mi 10T
Xiaomi Mi 10T

35,999

Xiaomi Redmi 9i
Xiaomi Redmi 9i

8,299

Xiaomi Mi 10T Pro
Xiaomi Mi 10T Pro

39,999

Infinix Hot 10
Infinix Hot 10

9,999

Vivo V20 SE
Vivo V20 SE

20,990

Vivo V20
Vivo V20

24,990

Micromax In 1b
Micromax In 1b

6,999

Micromax In Note 1
Micromax In Note 1

10,999

OnePlus 8T
OnePlus 8T

42,999

Samsung Galaxy F41
Samsung Galaxy F41

15,499

Apple iPhone 12 Pro Max
Apple iPhone 12 Pro Max

1,29,900

Apple iPhone 12 Pro
Apple iPhone 12 Pro

1,19,900

Apple iPhone 12 Mini
Apple iPhone 12 Mini

69,900

Apple iPhone 12
Apple iPhone 12

79,900

Poco X3
Poco X3

16,999

Realme Narzo 20A
Realme Narzo 20A

8,499

Realme Narzo 20
Realme Narzo 20

10,499

Realme Narzo 20 Pro
Realme Narzo 20 Pro

14,999

Oppo F17
Oppo F17

17,990

Samsung Galaxy M51
Samsung Galaxy M51

24,999

Poco M2
Poco M2

10,999

Oppo F17 Pro
Oppo F17 Pro

22,990

Realme 7 Pro
Realme 7 Pro

19,999

Realme 7
Realme 7

14,999

Xiaomi Redmi 9A
Xiaomi Redmi 9A

6,799

Vivo Y20
Vivo Y20

12,990

Xiaomi Redmi 9
Xiaomi Redmi 9

8,999

Nokia 5.3
Nokia 5.3

13,999

Motorola Moto G9
Motorola Moto G9

11,499

Realme C15
Realme C15

9,999

Realme C12
Realme C12

8,999

Samsung Galaxy Note 20
Samsung Galaxy Note 20

77,999

Xiaomi Redmi 9 Prime
Xiaomi Redmi 9 Prime

9,999

Oppo Reno4 Pro
Oppo Reno4 Pro

34,990

Samsung Galaxy M01 Core
Samsung Galaxy M01 Core

5,499

Realme 6i
Realme 6i

12,999

Asus Rog Phone 3
Asus Rog Phone 3

49,999

OnePlus Nord
OnePlus Nord

24,999

Infinix Smart 4 Plus
Infinix Smart 4 Plus

7,999

Xiaomi Redmi Note 9
Xiaomi Redmi Note 9

11,999

Samsung Galaxy M01s
Samsung Galaxy M01s

9,999

Vivo X50 Pro 5G
Vivo X50 Pro 5G

49,990

Vivo X50 5G
Vivo X50 5G

34,990

Realme C11
Realme C11

7,499

Poco M2 Pro
Poco M2 Pro

13,999

Realme X3
Realme X3

24,999

Realme X3 SuperZoom
Realme X3 SuperZoom

27,999

Tecno Spark Power 2
Tecno Spark Power 2

9,999

Oppo A12
Oppo A12

9,990

Oppo A52
Oppo A52

16,990

Samsung Galaxy A21s
Samsung Galaxy A21s

15,999

Oppo Find X2
Oppo Find X2

64,990

Motorola One Fusion Plus
Motorola One Fusion Plus

17,499

Samsung Galaxy A31
Samsung Galaxy A31

20,999

Samsung Galaxy M01
Samsung Galaxy M01

8,999

Samsung Galaxy M11
Samsung Galaxy M11

10,999

Infinix Hot 9 Pro
Infinix Hot 9 Pro

9,999

LG Velvet
LG Velvet

Price Not Available

Xiaomi Mi Note 10 Lite
Xiaomi Mi Note 10 Lite

Price Not Available

Apple iPhone SE 2020
Apple iPhone SE 2020

42,500

Honor 30 Pro
Honor 30 Pro

Price Not Available

Honor 30
Honor 30

Price Not Available

OnePlus 8
OnePlus 8

44,999

OnePlus 8 Pro
OnePlus 8 Pro

54,999

Xiaomi Redmi Note 9 Pro
Xiaomi Redmi Note 9 Pro

13,999

Motorola Moto E4
Motorola Moto E4

8,999

Samsung Galaxy On Max
Samsung Galaxy On Max

9,775

nubia N2
nubia N2

15,999

Karbonn K9 Kavach 4G
Karbonn K9 Kavach 4G

5,290

Motorola Moto C Plus
Motorola Moto C Plus

6,999

Best Sellers