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Snapdeal raises USD 100 million, reaches USD 1 billion in value

Wednesday 21 May 2014 00:29 CET | News

Indian ecommerce website Snapdeal.com has raised USD 100 million in a round that will make the company reach a value of roughly USD 1 billion.

Investors included Singapore state-owned investment company Temasek Holdings, asset management company BlackRock and others.

The latest fundraising is Snapdealā€™s second for 2014. In February 2014, it brought in USD 134 million from eBay, Bessemer Venture Partners, Intel Capital and others. In total, Snapdeal has raised almost USD 350 million.

In March 2014, Snapdeal made the goal to reach the USD 1 billion milestone in sales in 2014, according to Kunal Bahl, founder and CEO at the company states, as cited by indiatimes.com.


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Keywords: Snapdeal, Indian, ecommerce, fundraising
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce