Snapdeal: the India’s 2° most valuable start-up

Snapdeal

Snapdeal has secured a $200 million investment from the Ontario Teachers’ Pension Plan, giving the online marketplace a valuation of about $6.5 billion and underlining its place as India’s second most valuable start-up after rival ecommerce group Flipkart. Yesterday’s deal confirms that India’s start-up scene remains attractive to investors, amid fears that global venture groups had turned sceptical on the country after a year of blockbuster fundraising in 2015… The deal suggests that the valuation of New Delhi-based Snapdeal has leapt by about $2 billion in six months. The company said it was valued at about $4.8 billion when it raised funds last August… Led by charismatic entrepreneur Kunal Bahl, Snapdeal’s earlier funding rounds have included backing from SoftBank of Japan, Temasek of Singapore and Foxconn of Taiwan.

 

James Crabtree

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