Snapdeal.com, is set to see a major investment from General Atlantic Partners. The PE funding, is expected to be around $ 80 – 100 Million, and may also see participation from the existing investors – Bessemer Venture Partners, Nexus Venture Partners and IndoUS Venture Partners.
Snapdeal.com, which started as a group deal site, has in last one year morphed into a mainstream e-commerce site, offering products across categories. The venture had received an earlier funding of $ 40 Million, from Bessemer Venture Partners, Nexus Venture Partners and IndoUS Venture Partners mid last year. Earlier, the company had received an investment to the tune of $ 12 Million from Nexus and IndoUs Venture Partners.
This present deal, with General Atlantic stepping in is pegged to be one of the largest in Indian e-commerce space, and post the materialization of the deal – Snapdeal.com emerge as a player with the largest amount of PE capital and investment raised amongst Indian e-commerce companies.
General Atlantic Partners, presently have investments in Genpact, Hexaware, Indus Ind Bank, Asian Genco, IBS, Infotech in India, and this would be its first investment in Indian e-commerce space.