In October last year, we heard about Amazon’s plans to acquire Rocket internet-backed etailer Jabong, which left us wondering if it were a well thought out move to counter competition from Flipkart. But from what we hear now, the deal, which pegged Jabong at a valuation of $1.2 billion, has been cancelled.
Why it has been called off is yet to be known. Had the deal materialized, it would have been the biggest deal ever in ecommerce industry and Flipkart-Myntra would have had a serious and equally strong competitor.
Currently, Jabong is inching closer to being a part of Global Fashion Group (GFG), which is an emerging-markets focused fashion ecommerce firm. GFG would be formed with other firms spread across 23 countries.
After dwindling with her family business, into travel and hospitality, for more than 3 years, Pooja Vishant found her true love in writing. Happy-go-lucky and cheerful, she loves pink; so pink is the way to go if you want to get into her good books. The Associate Editor keeps track of even a leaf that has moved in the ecommerce world!
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