Flipkart signs non-binding term sheet for Snapdeal buyout
Flipkart has moved a step closer to close its merger with Snapdeal by signing a non-binding term sheet with the latter, according to reports. The term sheet was signed over the weekend and Snapdeal, run by Jasper Infotech, has been valued at $1 billion. Snapdeal's biggest investor SoftBank is said to have bought early investor Kalaari Capital's minority stake.