So First In­vestor Ken­neth Glass Backs Snapdeal 2.0

The Economic Times - - Disruption: Startups & Tech -

New Delhi: Snapdeal’s ear­li­est in­vestor Ken­neth Glass has come out in sup­port of CEO Ku­nal Bahl over the de­ci­sion to call off merger talks with larger ri­val Flip­kart.

Glass, a for­mer Mi­crosoft ex­ec­u­tive, has writ­ten an email to Bahl ex­tend­ing his sup­port for ‘Snapdeal 2.0’.

“Ten years ago, I be­lieved in Ku­nal and Ro­hit’s vi­sion to cre­ate a suc­cess­ful com­pany in In­dia and was ex­cited to be their very first in­vestor,” he wrote in an email.

He fur­ther said: “To­day, I’m equally ex­cited about the an­nounce­ment in­tro­duc­ing Snapdeal 2.0 and be­lieve the fu­ture for Snapdeal is very bright and I’m thrilled to con­tinue to be on this jour­ney with them."

When con­tacted, Bahl, in an emailed re­sponse, said it is great to see the con­tin­ued sup­port from share­hold­ers like Ken­neth, who has been an in­te­gral part of Snapdeal’s jour­ney.

“Our team re­ally ap­pre­ci­ates the con­tin­ued com­mit­ment of our share­hold­ers to Snapdeal,” he added.

There have been re­ports that Snapdeal’s de­ci­sion to walk away from the Flip­kart deal and in­stead pur­sue an in­de­pen­dent path has not gone down well with a sec­tion of share­hold­ers.

KENNETHGLASS In­vestor I be­lieve the fu­ture for Snapdeal is very bright and I’m thrilled to con­tinue to be on this jour­ney with them

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