 "Snapdeal to raise $150 mn")
Snapdeal and eBay declined to comment on the matter.
Snapdeal has raised about $100 million (Rs 600 crore) from private equity firms since starting operations in 2010. The focus for Snapdeal this year will be scaling up to 100,000 small merchants, tapping mobile commerce and building ecosystems for same-day delivery, said Rohit Bansal, co-founder and chief operations officer, in a recent interaction with Business Standard.
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“We will talk about it when it happens,” Bansal had said on being asked whether Snapdeal would raise more funds this year.
Snapdeal’s other investors include Bessemer Venture Partners, Nexus Venture Partners, IndoUS Ventures, Recruit Corp (Japan), Silicon Valley Bank, eBay, ru-net, Saama Capital and Intel Capital.
The company is expected to pump money into building an ecosystem for logistics and supply chain and technological innovations for mobile commerce.
Last year, Flipkart raised over $350 million (Rs 2,100 crore) in separate rounds from new and old investors. Flipkart's investors include Tiger Global, Dragoneer Investment Group, Morgan Stanley, Sofina, Vulcan Capital, Accel Partners and Iconiq Capital, and Naspers. In the six years that it has been in business, Flipkart has raised $540 million (Rs 3,240 crore).
- Snapdeal has raised about $100 mn from private equity firms so far
- Investors include Bessemer Venture Partners, Nexus Venture Partners, IndoUS Ventures, Recruit Corp. (Japan), Silicon Valley Bank
- Last round of funding was in June 2013 for about Rs $50 million from eBay, ru-net, Saama Capital and Intel Capital