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Snapdeal secures $200 million from Ontario Teachers’ Pension Plan & others


Ecommerce platform Snapdeal has raised $200 million in funding led by Ontario Teachers’ Pension Plan (OTPP) and with participation from Iron Pillar and other investors, reports the Mint. The company will use the funds to build up its capabilities and for bettering consumer and seller experience.

In August last year, Snapdeal raised $500 million from Foxconn, Alibaba and Softbank with participation from various other investors. It had also raised $627 million from Softbank in October 2014. Other than this, the company raised $100 million from Temasek Holdings and others in May the same year, $133.7 million from eBay and others in February, $50 million from existing investors in June 2013 and $52 million in 2011 in separate rounds of funding from Bessemer Ventures Partners, Indo-US Venture Partners and others.

Snapdeal recently launched a multilingual platform for its mobile website, starting with Hindi and Telegu, with plans to add other languages including Marathi, Bengali, Tamil and Malayalam. The company built the the multilingual platform on top of Snaplite, which it had launched a month back. At the time, it claimed the new website was 85% faster than the original mobile site, and was specially designed for users on a 2G connection.

Snapdeal has also been increasingly working on improving its seller side of things. In November last year, it launched Snapdeal Ads, a platform that offers targeted advertising tools for sellers. The same month it launched a Professional Service Panel for its sellers allowing them to outsource support for various services like tax registration, cataloguing, business consulting etc.

Snapdeal’s investments & acquisitions:

– In September, Snapdeal invested $100 million in Shopo, a zero commission mobile marketplace targeting small and medium businesses. Shopo was launched by the company in July and allows sellers to chat with their prospective customers and sell them products.

– The same month, it acquired US-based programmatic display advertising platform startup Reduce Data for an undisclosed amount and invested in PepperTap.

– In June, Snapdeal acquired mobility solutions company Letsgomo Labs.

– In May, it acquired Hyderabad-based mobile technology startup MartMobi for an undisclosed amount.

– In April, Snapdeal acquired online recharge and couponing site Freecharge.

– In March, Snapdeal had acquired a majority stake in Gurgaon-based financial products and services platform RupeePower for an undisclosed amount. In the same month, it picked up a minority stake in logistics firm GoJavas to strengthen its supply chain infrastructure.

– In February, it acquired online luxury fashion store Exclusively (formerly Exclusively.in) for an undisclosed amount.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ