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August 13, 2013

Deal Alert: Snapdeal raises $75-M from Softbank

eBay-backed online marketplace Snapdeal has raised $75 million from Softbank. Three months ago, Snapdeal had closed a $75 million investment round from Ebay, Intel Capital, Russian venture fund ru-Net, Saama Capital, Recruit Co, existing investors like Nexus Venture Partners, Bessemer Venture Partners and IndoUS Venture Partners and a few angel investors. Earlier, it had raised $12 million from Nexus Venture Partners and Indo-US Venture Partners in Jan 2011 and $40 million from Bessemer Venture Partners, Nexus Venture Partners and Indo-US Venture Partners in July 2011. The company has raised $202 million until now. 

With more than 20 million registered users, Snapdeal claims to be clocking a gross turnover of more than Rs 100 crore a month. 

Source: MediaNama

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