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April 01, 2013

Deal Alert: Snapdeal raises $50-M from eBay, existing investors: report

New-Delhi based online marketplace Snapdeal has raised $50 million from eBay and existing investors, including a Japanese financial institution. The investment, which was closed around 4 months back, was led by eBay with participation from existing investors Bessemer Venture Partners, Nexus Venture and IndoUS Venture Partners. 

With this round, Snapdeal has raised total of $102 million of funding. eBay reportedly looked at around 40 companies in India to invest, and found good synergies with Snapdeal, especially owing to its marketplace model. 

From the Venture Intelligence PE Deal database: Snapdeal had raised $2.25 M from Kalaari Capital in Sep-09, $1.12 M from Kalaari in May-10, $7.5 M from Kalaari and Nexus in Jan-11, and $40-M from Kalaari, Nexus and Bessemer in Jul-11.

Source: nextbigwhat

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