Snapdeal, Micromax Founders Schmoozing On Twitter Over YU

Snapdeal Cofounder Kunal Bahl and Micromax founder Rahul Sharma have just shared a series of cryptic tweets on twitter. 

YU Televentures is an electronics brand that’s partly owned by Micromax Mobile. Founded in 2014, it’s a joint venture between Cyanogen Inc and Micromax, and holds official CyanogenOS rights in India. Rahul Sharma supposedly owns 99.9% of Yu Televentures, with the other 0.1% being held by Micromax founders Vikas Jain and Sumeet Arora.

Snapdeal has been on an acquisition spree this year, the most prominent being Freecharge’s acquisition for $400m. Last month, it had acquired Letsgomo Labs, a Gurgaon based company that helps small businesses go mobile. In February this year, it had acquired Exclusively, a high end fashion platform. In March, it had acquired a majority stake in RupeePower, a financial services company that ties consumers with lenders. 

While it’s not clear if this recent tweet storm hints at an acquisition or merely a tie-up to sell YU phones on Snapdeal, it does signal at growing ties between the two companies. Also, Bahl’s language (“about time we did something together”) might hint that serious things are afoot between Snapdeal and YU.

We will update this article as this news develops.

Share on FacebookTweet about this on TwitterShare on Google+Share on RedditShare on LinkedInPin on PinterestShare on TumblrShare on StumbleUponEmail this to someone