Online shopping platform Naaptol has raised funding worth $51.7 million (Rs 343 crore) from existing investor Mitsui & Co, taking its stake in the company from 5% to 20%, valuing the company at around $259 million (up from $35 million in 2010). Naaptol will use the funds for expanding its reach, improving its supply chain, upgrade its studio to produce more content in multiple languages and its technology. With this round, the company has raised approximately $101 million so far.
The company claims that it reaches 160 million TV households in India, plays over 350 hours of advertisements in multiple languages and processes 20,000 orders daily. Naaptol generated 85% of its revenue from television as of April this year. It showcases electronics, apparel, jewelry and home and lifestyle products on its platform.
– In April, the company raised Series C funding worth $20.5 million (Rs 136 crore) from Mitsui, with participation from existing investors, which it would use towards expansion, supply chain automation and product development. Although currently shipping only in India, it seems that Naaptol might start shipping internationally, if its FAQs is anything to go by.
– In late 2011, it raised $25 million (~Rs 122.5 crore) in an all cash funding round led by New Enterprise Associates, with participation from earlier investors.
– In 2010, it raised $5 million (Rs 33 crore) from Canaan Partners, and had expanded its television presence to compete with home shopping networks such as STAR CJ and HomeShop18.
Naaptol was started by Manu Agarwal in 2008 and claims to have over 470 brands on its platform. In 2011, it launched a private sales site called Naaptol Club to offer deals on fashion apparels from different brands. It also offers a loyalty points system called Naaptol Rewards where it discounts the items further and adds points to redeem for its users and has a tie up with Payback.
– In September, TV18 Home Shopping Network HomeShop18 posted a loss of Rs 174.91 crore for the financial year ended March 2015, up significantly from Rs 83.9 crore from the previous financial year. Revenues, increased 20.55% year-on-year (yoy) to Rs 443.87 crore from 368.2 crore.
– In June last year, Star India exited from its home shopping joint venture Star CJ Network India Ltd by selling its 50% stake to the private equity firm Providence Equity Partners for an undisclosed amount.