Online marketplace, SnapDeal.com has raised $50 million Series C investment led by ecommerce giant eBay. The other investor participated in the investment are Nexus Venture Partners, Bessemer Venture Partners and IndoUS Venture Partners. The development which was first reported by NextBigWhat has been confirmed by TechCrunch based on its sources.

SnapDeal’s CEO and co-founder Kunal Bahl has declined to comment.

“It will make eBay a minority shareholder in the company, and this Series C investment means that SnapDeal has now raised about $102 million in funding since 2010, with the previous two investments being $12 million in January 2011, and $40 million in September 2011,” the report stated.

The online marketplace which was originally launched as a daily deals website in 2010 pivoted in 2012. Presently, the website has verticals like fashion, home goods, and consumer electronics and it now has 20 million users or about 1 in every five Indian people who are online.

Kunal Bahl has recently said that the company is expecting to cross Rs 2000 crore online sales in FY 2014.

Meanwhile, eBay which is concentrating on BRIC markets believes that 25% of total active users, and 12% of global sales will be coming from the BRIC block by 2015. Within that eBay says it wants to build out active users in BRIC and emerging markets 6.5-fold, reported TechCrunch.