Industry News

Snapdeal raises USD 200 million

According to recent report published by TechSci Research, “India E-Commerce Market Forecast and Opportunities, 2020”, the country’s e-commerce market is projected to grow at a CAGR of more than 36% during 2015-2020.

The online market place founded by IIT alumnus Kunal Bahl, Rohit Bansal had raised USD 200 million in a fresh round of investment in Feb 2016. The company is now valued close to USD 6.5 billion now in 2016.

The investments are found out to strengthen the company’s market presence in a time where the competition to keep the market share is has become the key challenge.

The key investors this time are Ontario Teachers' Pension Plan, Brother Fortune Apparel, and Iron Pillar.

The five-year-old e-commerce company has around 275,000 sellers and over 30 million products and has presence in more than 6,000 cities and towns in India. The company will utilize this investment to improve its technology platform, logistics, payments and back-end infrastructure.

The Government of India is considering 100% FDI in the E-commerce sector. This would allow other major players to give tough competition to the existing players in the Indian market. The major players currently are Flipkart, Amazon, EBay Sanpdeal.