wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Snapdeal Raises $40M From Bessemer, NVP & IndoUS Venture Partners

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 venture called BabyBox.in,last year which on the face of it looks like any other website providing information and expert advice to potential and expecting parents, but focuses on building an offline database of parents of newborns, though an ad supported model. Jasper’s rewards and coupons platform which runs customized rewards and discounts programs for third party clients including co-branded credit cards, had also launched its own rewards card, by the name of Money Saver Prime.

Advertisement. Scroll to continue reading.

Jasper had also acquired Grabbon, another daily deals site based in Bangalore. Although, Jasper CEO Kunal had said in an interview with MediaNama, that the site will be relaunched in February 2011, one still gets redirected to a ‘domain registered’ landing page.

Snapdeal Raises $12M Funding; Launches BabyBox, MoneySaver Prime, Plans Acquisitions
What’s The Deal With The Group Buying Space In India? One HUGE Positive

Written By

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



Releasing the policy is akin to putting the proverbial 'cart before the horse'.


The industry's growth is being weighed down by taxation and legal uncertainty.


Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.


This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

You May Also Like


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...


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...


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...


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...

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
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