We love ourselves some good Twitter banter – and no one does it better than the honchos at the top e-commerce firms in India. The latest round was between the CEOs of Flipkart and Snapdeal.
Let’s set some context:
Chinese e-commerce giant Alibaba announced it’s intent to enter India this year seeing the immense potential. This announcement has caught the frenzy of the media and everyone is talking about it. Including Sachin Bansal, who took a not-so-subtle dig at Alibaba’s invested companies in India, viz. Paytm and Snapdeal.
And ofcourse, Kunal Bahl (CEO, Snapdeal) replied with what was a far bigger burn.
This was in reference to Morgan Stanley marking down Flipkart shares by 27%, bringing its valuation down to $11 Bn from $15.2 Bn
The advent of Alibaba, if at all, will definitely bring a lot more excitement to this already spiced up industry.