Snapdeal.com recently raised $100 million from temasek ,BlackRock, Myriad, Premji Invest and Tybourne .this investment follows the $133 million investment from eBay, Bessemer Venture Partner which was 3 months ago.
Snapdeal is one the biggest Online retailer in india, and biggest competitor of Flipkart which is currently the biggest online retailer in india.
Snapdeal aims to capture the growing indian e-commerce market which is said to grow sevenfold in the next five year which is around $22 billion. The move of Acquiring the Fashion discovery site Doozton is seen as a step in the new market
“We see this financing round as another endorsement of Snapdeal’s differentiated strategy and progress as India’s largest online marketplace. We are pleased to welcome several marquee global investors as our partners and believe their association will contribute to Snapdeal’s long-term success. Our mobile and internet commerce marketplace is now connecting millions of buyers to a very large base of sellers that offer products and services of national and international brands. We will continue to focus on creating life changing experiences for the buyers as well as sellers in the Snapdeal ecosystem.” -said Snapdeal co-founder and CEO Kunal Bahl in a release.
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