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, a copy of which was seen by the news agency.
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.