Update: Snapdeal has announced that it has secured $40 million in a series B funding round from Bessemer Venture Partners, Nexus Venture Partners and Indo-US Venture Partners, reports TechCrunch. Kunal Bahl, the Founder & CEO of Snapdeal said that the site was adding 1.5 million new members every month, and the funding will help in expanding operations and in increasing employee headcount to 800, by the end of this year. Earlier - 14th July 2011: Jasper, the consumer marketing company that owns daily deals website SnapDeal, is in advanced funding talks with Bessemer Venture Partners, Nexus Venture Partners and Indo-US Venture Partners, to raise around Rs.200 crore, valuing the copany at Rs 1000 crore, according to The Economic Times. The report cites a legal industry executive directly involved in the transaction, who claims that Snapdeal intends to use the funds to grow operations; for recruiting executives and in expanding its product lineup. The company claims to have signed 6 million users and 30,000 merchants on SnapDeal, with daily deals (both online and physical deals included) across categories such as dining, health and beauty services, travel among others, offered in around 100 cities, across India. In January, Jasper had raised $12 million from Nexus Venture Partners and Indo-US Venture Partners, as part of its second round funding, and had said that it intended to acquire daily deals/group buying firms in Malaysia, Thailand, Philippines and Indonesia. It is already present in Sri Lanka, Nepal, Bangladesh, Maldives and Singapore. It also launched a consumer marketing…
