HomeShop18 gets fresh round of funding

HomeShop18 announced that it has closed a Rs 85.40 crore ($14 million) follow-on funding round with GS Home Shopping (GS), funds managed by OCP Asia and Network18.

GS will invest Rs 67.10 crore ($11 million); OCP Asia & Network18 will invest the remaining amount. The transaction values HomeShop18 at Rs 2,196 crore ($360 million).

GS is the third largest Home Shopping company in the world and the market leader in Korea.
 

Sundeep Malhotra Founder & CEO, HomeShop18 said, “This round marks an inflexion point for the business as the company rapidly moves towards profitability while continuing to scale up revenues.” Network18 will remain the majority shareholder (51%) in HomeShop18. SAIF Partners, GS Home Shopping and OCP Asia are the other existing investors at HomeShop18.

 
HomeShop18 launched India’s first 24 hour Home Shopping TV channel in 2008. Today, it provides an integrated virtual shopping experience on Internet, Television and Mobile apps through HomeShop18.com and the 24x7 TV channel. Since inception, HomeShop18 has acquired a customer base of over 8 Million.

It has built an impressive portfolio of over 12 million SKUs across multiple product categories and a logistical reach of over 3,000 locations across India. Homeshop18 is one of India’s fastest growing virtual commerce companies with revenues having more than doubled over the last year.
 
BMR Advisors acted as transaction advisors to the company.