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Ratan Tata invests in online marketplace Snapdeal

Tata Sons
Chairman Emeritus, Ratan Tata, has invested in online marketplace Snapdeal.com.
“Mr Tata has made a personal investment in the company,” said Bahl,
CEO, Snapdeal. The investment amount, however, was not
disclosed.  In the beginning of August, we had reported that Ratan
Tata might be exploring the investment in a personal capacity.

Tata Sons
Chairman Emeritus, Ratan Tata, has invested in online marketplace Snapdeal.com.
“Mr Tata has made a personal investment in the company,” said Bahl,
CEO, Snapdeal. The investment amount, however, was not
disclosed.  In the beginning of August, we had reported that Ratan
Tata might be exploring the investment in a personal capacity.

“This stands testimony to the growth and success that we have
seen in a short span of 4 years,” said Kunal Bahl, Founder & CEO,
Snapdeal. Since its inception, the company has raised about $400 million. It has
invested about USD 100 million in logistics and operations to expand its presence
in the $3 billion Indian E-commerce market.

“An investment by a legendary and respected figure like Mr.
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,” Bahl said. He further added that Snapdeal has seen 600%
growth year-on-year for the last two years. 

Snapdeal currently houses over 5 million products across 500
diverse categories from over 50,000 sellers.  The company had raised $100
million in May from Temasek, BlackRock Inc, Myriad, Premji Invest and Tybourne,
while in February, it had received funding worth $133.7 million from its existing
investor, eBay and others. 

A report by consulting firm Technopak pegs the $2.3 billion
E-retailing market to reach USD 32 billion by 2020.  Snapdeal rival
Flipkart on July 29 announced a $1 billion funding, which is the largest in the
fledgling E-commerce sector. A day later, world’s largest E-retailer
Amazon said it will pump in $2 billion to bolster business here. 

Another report by consultancy firm PwC and industry body Assocham
suggests that E-commerce firms are expected to spend up to $1.9 billion by
2017-2020 on infrastructure, logistics and warehousing

Source: PTI

Related Story: Ratan Tata might invest in Snapdeal

 

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