Flipkart, Snapdeal co-founders fight on Twitter over Alibaba’s India entry

E-commerce rivals Flipkart and Snapdeal took to Twitter to trade barbs at at each other's companies over Chinese player Alibaba's entry into India.

By: IANS | Bengaluru | Updated: March 28, 2016 12:13 pm
Twitter, Flipkart, Snapdeal, Alibaba, Morgan Stanley, Flipkart Snapdeal tweets, e-commerce, social media, smartphones, technology, technology news E-commerce rivals Flipkart and Snapdeal took to Twitter to trade barbs at at each other’s companies over Chinese player Alibaba’s entry into India.

Founders of Indian e-commerce rivals Flipkart and Snapdeal took to Twitter to trade barbs at at each other’s companies over Chinese player Alibaba’s entry into India.

Must Read: The billion dollar club of Indian startups: From Flipkart to Shopclues

“Alibaba deciding to start operations directly shows how badly their Indian investments have done so far,” tweeted Flipkart co-founder Sachin Bansal on Friday evening in a reference to Alibaba’s participation in Snapdeal’s $500 million fundraising in 2015.

Check out his tweet here:

Retorting to this, Snapdeal’s founder Kunal Bahl tweeted: “Didn’t Morgan Stanley just flush five billion worth market cap in Flipkart down the toilet. Focus on your business, not commentary.”

Kunal Bahls’ tweet:

Morgan Stanley slashed Flipkart’s shares value by 27 percent in February 2015, bringing down the etailer’s claimed valuation from $15.2 billion to $11 billion.

Flipkart’s co-founders Sachin Bansal and Binny Bansal were employees of Amazon founded in 1994 in the US by Jeff Bezos, before they quit to set up Flipkart in 2007.

Read: 2015: When ecommerce grew, despite the bumpy ride

On March 18, E-commerce giant Alibaba, founded in 1999 by Jack Ma and Peng Lei, announced its interest to explore online marketplace opportunities in India.