Online Marketplace Snapdeal.com Raises $100 Million From 5 Investors

Online Marketplace Snapdeal.com Raises $100
Million From 5 Investors
Online marketplace Snapdeal.com has raised $100 million from a group of five investors, the company said in a statement.
The investors are Temasek, BlackRock Inc, Myriad, Premji Invest and Tybourne.

"We see this financing round as another endorsement of Snapdeal's differentiated strategy and progress as India's largest online marketplace. We are pleased to welcome several marquee global investors as our partners and believe their association will contribute to Snapdeal's long-term success.

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"Our mobile and Internet commerce marketplace is now connecting millions of buyers to a very large base of sellers that offer products and services of national and international brands. We will continue to focus on creating life-changing experiences for the buyers, as well as sellers, in the Snapdeal ecosystem," said Kunal Bahl, Snapdeal's co-founder and chief executive officer.

This follows Snapdeal's previous round of equity financing of $133.77 million, which was completed in February 2014 with participation from Snapdeal's existing investors, including eBay, Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital.

Credit Suisse acted as Snapdeal's exclusive financial advisor and Indus Law acted as its legal advisor for the financing.