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Snapdeal Raises $12M Funding; Launches BabyBox, MoneySaver Prime, Plans Acquisitions

Jasper, the consumer marketing company that owns daily deals website SnapDeal,  has raised $12 million from Nexus Venture Partners and IndoUS Venture partners as part of second round funding, according to TechCrunch. Jasper's other ventures include Moneysaver, a coupons and rewards programs and the upcoming BabyBox, which is a website plus an offline advertising and sampling program. Last year, Jasper had set aside $2 million for acquiring new innovative businesses in India and had bought Bangalore based group buying site Grabbon, which, as Jasper CEO Kunal had said in a recent interview with MediaNama, will be relaunched in February 2011. Jasper intend to use the funding to acquire daily deals/group buying firms in Malaysia, Thailand, Philippines and Indonesia, Bahl told VCCircle.com: it is eyeing 6-7 ventures in the range of $25,000 to $1 million and plans on stock and cash deals, in addition to more domestic acquisitions. The company is already present in Sri Lanka, Nepal, Bangladesh, Maldives and Singapore. Launches BabyBox.in Jasper launched a consumer marketing venture called BabyBox.in around three months ago: on the face of it looks like any other website providing information and expert advice to potential and expecting parents, but it focuses on building an offline database of parents of newborns. According to Bahl, BabyBox has exclusive tie ups with over 3,000 hospitals and maternity centers across all major cities, where it distributes free "baby boxes" to parents of new borns with product samples of baby products and gift & discount coupons from advertisers in return of their personal details. The…

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