E-commerce is the next big ticket investment destination in India. Only few days ago, we had reported that Flipkart is raising $1 billion in fresh funding, which is the biggest ever by an Indian internet company in a single round. Next day, Amazon had broken this record of funding and announced that it would invest an additional US $2 billion in Amazon India. To take this story further, today the Snapdeal.com, one of India’s largest online marketplace has announced that Mr. Ratan Tata, Chairman Emeritus, Tata Sons, has made a personal investment in the company. However, the company has not divulged the exact details of the investment promised by Mr. Tata.
This investment by Mr. Tata, a renowned name in the Indian as well as global business circles is of great significance to Snapdeal and stands testimony to the growth and success seen by the company in a short span of 4 years. Snapdeal.com claims to have seen 600% growth year-on-year for the last two years and currently houses over 5 million products across 500+ diverse categories from over 50,000 sellers. With the vision to create life changing experiences for small businesses and consumers, the company is run by a young and dynamic team of 1500+ members.
Speaking about this, Kunal Bahl, co-Founder & CEO, Snapdeal.com said, “This is a very proud and exciting moment for the entire Snapdeal family. 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.”
