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SnapDeal to raise $150 million in its next round of funding

03/01/2014

SnapDeal, a major player in the Indian e-commerce marketplace segment, is eying a fresh round of funding worth $150 millions.

According to a report generated by India Digital Review, in April 2013, the company raised a Series C investment, which was led by e-commerce giant eBay and other investors including IndoUS Venture partners, Nexus Venture Partners and Bessemer Venture Partners.

In June 2013, SnapDeal again raised an investment of $50 million from venture capital firms like Saama capital, ru-Net, Intel Capital, Angel Investors and Russian Venture Fund.

As per the report by Business Line, Company will be using the money raised from the fresh round of funding to improve technology, for marketing and acquisitions.

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On this Snapdeal CEO, Kunal Bahl said, “Given our profitability curve, we can consider going public in a couple of years.”

However, he did not elucidate if the company has any plans of raising an additional round of funding and envisaged sales around $1 billion in 2014-15.

SnapDeal claims that at present they are offering four million products from 20,000 sellers.

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