The combination of Snapdeal and Flipkart is described as being an arranged marriage and Son is the matchmaker. Son and his company are willing to inject another $500 million to $1 billion if the merger finalizes.
Son's Game Plan
The Bloomberg report noted that Son was an early backer of Alibaba Group Holding Ltd BABA and helped Alibaba defeat eBay in the Chinese market. As such, he has the necessary experience in helping a local e-commerce company take on the much larger American rival.
Son is now looking to do the same in India and believes the combination of Snapdeal and Flipkart will create a big enough empire to battle Bezos and Amazon for the control of the world's fastest growing online retail market. It has yet to be seen if the market is the biggest.
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Report: Amazon To Begin Grocery Delivery Program In India Before April\ This India ETF Is Soaring ________ Image Credit: Masayoshi Son and Nobi Hayashi, By Danny Choo - http://www.flickr.com/photos/dannychoo/5579247280/, CC BY-SA 2.0, via Wikimedia Commons© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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