Snapdeal in talks with Amazon, Intuit to sell Unicommerce: Report

▤ Summary

Ecommerce firm Snapdeal has kickstarted discussions to sell technology solutions arm Unicommerce, The Economic Times reported, citing people it didnt identify. The online retailer is seeking an enterprise valuation of Rs 150-200 crore ($23-31 million) for Unicommerce, the report said. Unicommerce was founded in 2012 by IIT Delhi alumni Ankit Pruthi, Karun Singla and Vibhu Garg. In August last year, VCCircle reported that the founding team had quit, following the completion of the stipulated period as per the terms of the acquisition of Unicommerce by Snapdeal. Following the exit of Unicommerce’s founding team, industry observers had indicated that Snapdeal was likely to sell the unit.

▦ Linked Companies

Mint

$1B+