After much speculation of Tata Sons’ chairman Ratan Tata putting funds in the e-commerce company, it is confirmed that he indeed has made a personal investment in Snapdeal. The deal amount is still undisclosed.
Snapdeal.com has seen 600% growth year-on-year for the last two years. Currently, the company is run by a team of 1500+ members. Also, just yesterday Snapdeal and Tata Value Homes announced a partnership for starting the real estate vertical of the former together.
Below is a picture with Ratan Tata, Snapdeal CEO Kunal Bahl shared.
See Also: Ratan Tata Plans to Invest in Snapdeal
Speaking about this, Kunal Bahl said, “This is a very proud and exciting moment for the entire Snapdeal family. An investment by a legendary and respected figure like Mr. Tata is an excellent validation of our focused strategy on building a long term enterprise and marks the start of a very important phase for the company.”
Earlier, Snapdeal had raised USD 100 million in PE, USD 133.7 million in Series F, USD 75 million in Series E, USD 75 million in Series D, USD 40 million in Series B and USD 12 million in Series A. The company having a total capital to date is USD 435.7 million. It is backed by 14 investors and had made 4 acquisitions, till date. Last year, the firm had made an Seed investment of USD 20,000 in online chat portal, Zumbi.
To share your views, write to email@example.com.