Info-tech

SnapDeal's owners raise $12 million

Our Bureau New Delhi | Updated on January 30, 2011 Published on January 30, 2011


Jasper, the parent company of e-commerce website SnapDeal.com, has raised $12 million from leading investors in the Indian digital space, Nexus Venture Partners and IndoUS Venture Partners.

According to Mr Kunal Bahl, CEO of Jasper, “The investment will help us enhance our 300 person strong team by attracting world-class talent and to further increase our reach within and outside India. It will also help us in inorganic expansion in the domain of marketing platforms for SMEs and well-established brands.”

Snapdeal.com is Jasper's consumer facing business which was started in February 2010 and offers average savings of 50- 90 per cent at popular restaurants, spas, salons, movie theatres, among other leading categories. SnapDeal now has over a million subscribers, and is adding a new subscriber every 7 seconds.

Jasper also owns other consumer marketing platforms like MoneySaver and the recently launched BabyBox. The company has operations across 50 cities in India, and has worked with over 50,000 retailers from various categories.

Published on January 30, 2011
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