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Snapdeal

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Type of Business: Private

Type of Site: E-commerce

Founded: 2010

Headquarters: New Delhi, India

Area served: India

Founders: Kunal Bahl, Rohit Bansal

Industry: Internet

Services: Online Shopping

Subsidiaries: Free Charges

Website: www.snapdeal.com

 

About Snapdeal

SnapDeal is an Indian e-commerce company based in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 275,000 sellers, over 30 million products and a reach of 6,000 towns and cities across the country.

 

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History of Snapdeal

Snapdeal was started on 4 February 2010 as a daily deals platform, but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become one of the largest online marketplaces in India offering an assortment of 10 million products across diverse categories from over 100,000 sellers, shipping to more than 5,000 towns and cities in India. In March 2015, Snapdeal brought actor Aamir Khan for the promotion of its website in India.

 

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Funding of Snapdeal

Round 1: In January 2011, Snapdeal received a funding of $12 million from Nexus Venture Partners and Indo-US Venture Partners.

Round 2: In July 2011, the company raised a further $45 million from Bessemer Venture Partners, along with existing investors Nexus Venture Partners and Indo-US Venture Partners.

Round 3: Snapdeal then raised a 3rd round of funding worth $50 million from eBay and received participation from existing investors – i.e. Bessemer Venture Partners, Nexus Venture and IndoUS Venture Partners.

Round 4: Snapdeal received its 4th round of funding of $133 million on Feb-2014. The 4th round of funding was led by eBay with all the current institutional investors, including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital all participating.

Round 5: Snapdeal received its 5th round of funding of $105 million in May-2014. The 5th round included investments by Blackrock, Temasek Holdings, Premji Invest and others. The round valued Snapdeal at $1,000,000,000.

Round 6: Snapdeal received its 6th round of funding in Oct-2014 from Softbank with investments worth $647 million in fresh capital. This makes Soft Bank the largest investor in Snapdeal.

Round 7: Snapdeal received its 7th round of funding in Aug-2015 from Alibaba Group, Foxconn and Soft Bank with investments worth $500 million in fresh capital.

Round 11:One of the world's largest pension funds, Ontario Teachers' Pension Plan, and Singapore-based investment entity Brother Fortune Apparel have led the 11th round of funding in online marketplace player Snapdeal. The latest investment is $200 million (Rs 1,367.6 crore) in Jasper Infotech-owned Company.

 

Acquisitions of Snapdeal

In 2 June 2011, Snapdeal acquired Bengaluru-based group buying site, Grabbon.com.

In April 2012, Snapdeal acquired esportsbuy.com, an online sports goods retailer based out of Delhi.

In May 2013, Snapdeal acquired Shopo.in, an online marketplace for Indian handicraft products.

In April 2014, Snapdeal acquired fashion products discovery site, Doozton.com.

In December 2014, Snapdeal acquired gifting recommendation site, Wishpicker.com.

In January 2015, Snapdeal acquired a stake in product comparison website Smartprix.com.

In February 2015, Snapdeal acquired luxury fashion products discovery site, Exclusively.in.

In March 2015, Snapdeal acquired 20% stake in logistics Service Company Gojavas.com.It currently owns a 50% stake in GoJavas valued at $35 million.

In March 2015, Snapdeal acquired ecommerce management software and fulfilment solution provider, Unicommerce.com.

In March 2015, Snapdeal entered into the financial services marketplace by acquiring a majority stake of Rupee Power which provides a digital platform for financial products to customers. Tejasvi Mohanram, the founder of Rupee Power, would continue to be the MD & CEO of the company.

In April 2015, Snapdeal acquired mobile-payments company FreeCharge.com.

In September 2015, Snapdeal acquired Reduce Data, a programmatic display advertising platform.

 

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