Online shopping portal and Tele-shopping platform is in talks to raise USD 50 million from private equity investors, per LiveMint’s Shrutika Verma. The team plans to utilize the raised funds in launching a 24 hour TV shopping channel and in expanding its supply chain and technology.
We tried to dig more and have written to the founders. However, the response is still awaited.
Launched in 2008, Naaptol was among the early entrants in the Indian ecommerce space. Initially catering to the price comparison space, it soon transformed into a selling marketplace.The portal now provides a wide range of options in all major categories including Fashion, Baby, Automobile accessories, Electronics, mobiles and more.
Previously, the company has raised two rounds of funding viz. USD 25 million in 2011 from PE firm NEA and USD 7 million in 2013 as a top-up to the previous.
The ecommerce space in India is currently valued at USd 13 billion and TV shopping is a market of USD 500 million valuation. With Homeshop18 planning for an IPO and Flipkart-Myntra going for a merger deal, the funding will definitely fuel in company’s operations and competitive strategies.
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