wordpress blog stats
Connect with us

Hi, what are you looking for?

, ,

Amid Flipkart-Myntra acquisition talks, Snapdeal raises $100M at $1 billion valuation

Snapdeal has raised $100 million round from Singapore state-owned investment company Temasek Holdings, asset management firm BlackRock and others at a valuation of $1 billion, reports The Wall Street Journal. Update: The investors in this financing include funds managed by Temasek, BlackRock Inc., Myriad, Premji Invest and Tybourne. Snapdeal CEO Kunal Bahl told the publication that the company will use the money to grow Snapdeal’s 250-person engineering team and beef up its listings from small businesses. There were talks of the company planning a US IPO in a year, which conflicts with reports of a possible acquisition by eBay, one of the leading investors in the company. Past investments: Overall, Snapdeal has raised over $300 million investment until now, which includes a $133.7 million investment in a round led by eBay earlier this year, a $50 million investment round from Ebay, Intel Capital, Russian venture fund ru-Net, Saama Capital, Recruit Co, existing investors like Nexus Venture Partners, Bessemer Venture Partners and IndoUS Venture Partners in June 2013; a $40 million round from Bessemer Venture Partners, Nexus Venture Partners and Indo-US Venture Partners in July 2011; and a $12 million round from Nexus Venture Partners and Indo-US Venture Partners in Jan 2011. Competition: Snapdeal’s competitor Flipkart has raised a total $541 million from five rounds. It raised $160 million investment from Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital and existing investor Tiger Global in October 2013; $200 million from Naspers, Accel Partners, Tiger Global, and ICONIQ Capital in July and $150 million from Naspers and Tiger Global in 2012. Flipkart has acquired…

Please subscribe/login to read the full story.
Written By

I'm passionate about technology and gaming. You can follow me <a>@chupchap</a>

Free Reads

Amazon

According to UOKiK, Amazon misled users into believing that placing an order or receiving an order confirmation was tantamount to a sales contract, which...

News

The ECI found Shrinate's comments to be in ‘undignified and in bad taste’ and to be prima facie violative of the ‘Model Code of...

News

With GPS in every car, India's toll collection is going high-tech.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ