Ratan Tata, chairman emeritus of Tata Sons, has made a "personal investment" in the online marketplace Snapdeal.com, a statement by the latter said here Wednesday.
Snapdeal.com announced that Ratan Tata has "made a personal investment in the company", the statement said.
However, the Delhi-based Snapdeal.com did not divulge the investment amount.
"This is a very proud and exciting moment for the entire Snapdeal family. An investment by ... Tata is an excellent validation of our focused strategy on building a long term enterprise and marks the start of a very important phase for the company," Kunal Bahl, co-founder and chief executive officer, Snapdeal.com said in the statement.
The four-year-old Snapdeal.com, which was started February 2010, has seen 600 percent growth year-on-year for the last two years and currently houses over 5 million products across 500-plus diverse categories from over 50,000 sellers. The company is run by a young team of 1,500-plus members, the statement added.
The announcement came a day after Snapdeal.com entered into a partnership with Tata Value Homes to sell apartments units of projects spread across various cities -- Bangalore, Chennai, Pune, Mumbai and Ahmedabad.
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