Info-tech

Snapdeal raises $40 m from global investors

PTI New Delhi | Updated on July 29, 2011 Published on July 29, 2011

E-commerce company Snapdeal.com has raised $40 million from global investors — Bessemer Venture Partners, along with existing investors Nexus Venture Partners and IndoUS Venture Partners.

In January this year, Nexus Venture Partners and IndoUS Venture Partners had invested about $12 million in Snapdeal.

“This significant investment will help us expand our products business, further strengthen the local and national merchant deals vertical and introduce various cutting-edge innovations to enhance consumer and merchant convenience,” Snapdeal.com CEO, Mr Kunal Bahl, said in a statement today.

Snapdeal.com features provides information on the best stuff to do, see, eat, and buy across 50 cities, besides discount vouchers for fine dining, movie tickets, shopping at the top brands, beauty and health packages, among other things.

It has over eight million members and partnerships with over 10,000 brands and retailers from various categories like electronics, fashion accessories and travel.

Published on July 29, 2011
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