The Awesome funding Story of Snapdeal

Snapdeal.com is a website that almost every internet user is aware of. Snapdeal.com is a one stop website to purchase a wide variety of products like consumer electronics, fashion, footwear, food deals, kitchenware and so much more. Not only this, but Snapdeal.com also known for providing the best prices and most frequent discounts to increase their customer satisfaction and to attract new customers to their website.

Snapdeal.com claims to have more than 20 million registered users with more than 15 million active users. Moreover, Snapdeal.com has a gross turnover of more than Rs 100 crore a month. These statics are very helpful as they clearly suggest that Snapdeal is a trustworthy website with a wide reach all across the country. It is right now one of the most popular Ecommerce players in the Indian cyber market. Thus, Snapdeal holds a significant position in the online market.

            To run such a huge website a fairly large amount of investment is required. When the founders of Snapdeal.com were asked about their recent investments, they revealed that their previous investors, Ebay.com, the American online auction website is willing to invest $200 million in the website. Moreover it was reported that Japan’s Softbank is also sliding in $75 million. When these two investments are considered, the total worth of the firm will climb up to $750 million.

            CEO of Snapdeal, Kunal Bahl, said in an interview that Snapdeal aims to sell merchandise worth $400 million. But according to him only 10 to 15 percent of the return is earned as revenue. So the company is not profitable yet. But he believes that it will soon be profitable enough.

Snapdeal is competing head to head with Flipkart.com, but Flipkart.com still ranks number one in the Indian ecommerce market. According to a Times of India report, eBay.com is planning to invest as much as to be the controller of the firm and the news is out that Snapdeal might get upto $50 million in funding from ebay and other players.

About the Author: Author is a writer and runs a coupon code website which has the latest Snapdeal coupons and other deals in India. Visit his website heavydiscounts.in for more deals and offers on online shopping

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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