Oct 28, 2014

Snapdeal raised around $1 billion this calendar year

SNAPDEAL SOFTBANK DEAL

The Delhi-headquartered online retailer which was founded by Wharton graduate Kunal Bahl and IIT Delhi alumnus Rohit Bansal in 2010, received $133.7 million in February from investors led by Chinese e-commerce company eBay and $105 million in May from a group of investors, including IT billionaire Azim Premji's family office Premji Invest.

Japanese internet and telecommunications group SoftBank has put in $627 million (Rs 3,847 crore) in Snapdeal, becoming the largest shareholder in the online marketplace major.

WHY SOFTBANK INVESTED IN SNAPDEAL?
  • Because India is the third-largest Internet user base in the world.
  • India has better, faster and cheaper Internet access, a big growth potential 
  • India will grow strongly over the next decade
SNAPDEAL STATS & NUMBERS
Registered users: 25 million
Sellers: 50,000 business sellers
Technology Team Size: 1000


Leave a Comment and Join the Discussion


0 comments:

Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More

 
-