Snapdeal 2.0: Investors come out in support

Nexus Venture Capital has come out in full support for co-founders

Some of the early-stage investors in Snapdeal, such as Nexus Venture Capital, have come out in support of the co-founders’ move to end merger talks with Flipkart. A host of minority shareholders, along with early-stage investor Kalaari Capital, are, however, displeased with the decision taken by Kunal Bahl and Rohit Bansal.

“Nexus, as a long-term Snapdeal shareholder, fully supports the Snapdeal 2.0 journey. We will continue to partner with the company to help achieve its goals,” the venture capital fund said on Wednesday.

During the five-month-long discussions for the sale of the e-commerce platform to Flipkart, led by the SoftBank group, Nexus