Delhi based Snapdeal has announced on Thursday that the company is raising over USD 133 million in its another round of funding led by eBay. This brings the total funding raised by Snapdeal to over USD 200 million, in five rounds.
Earlier in 2013 , the company raised USD 50 million from eBay and a group of other existing investors. The new round will significantly raise eBay’s stake in Snapdeal, but how much stake eBay now holds in the company post the latest round, is yet unclear.
“We see eBay’s second round of investment in Snapdeal as an endorsement of our strategy and progress. All our current institutional investors including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital have participated in this round as well which is a strong endorsement of our team” said Snapdeal Co-founder and CEO Kunal Bahl.
The latest investment will help Snapdeal to aggressively move forward in the market. The company has always had an quick approach with its marketplace model and has expanded its product portfolio in many ways including its recently launched education marketplace.
The company initially started as a daily deals platform but expanded in September 2011 to become another multicategory eCommerce company in the country via a marketplace model.
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