Snapdeal Secures $500 Million ; Launches Snapdeal Instant [Delivery Within 1 Hr]

Snapdeal last raised $627mn in 2014 and the current funding round has been rumored for the last few months and was on negotiation table over difference in valuation. 2 days back, Snapdeal launched Snapdeal Instant, which will do delivery within an hour in 3 cities (Delhi, Bangalore and Mumbai).
Total
0
Shares

Snapdeal has raised $500mn from Alibaba, Foxconn and SoftBank, recode reports.

Snapdeal last raised $627mn in 2014 and the current funding round has been rumored for the last few months and was on negotiation table over difference in valuation.

The funding comes at a time when ecommerce companies are again raising massive funding (Flipkart is rumored to have raised $700mn; Paytm is eyeing travel space) and trying out several new ways to grow GMV (grocery being the primary one).Snapdeal Raises $627mn from Softbank

2 days back, Snapdeal launched Snapdeal Instant, a hyperlocal delivery model. As part of Snapdeal Instant model, Snapdeal will do delivery (at no extra cost) within an hour in 3 cities (Delhi, Bangalore and Mumbai) – a showcase of its delivery network.

PS : Note that the funding bit isn’t yet confirmed by Snapdeal.

Leave a Reply

Sign Up for Our Newsletters

Get notified of latest industry interviews and insights!

You May Also Like

Daimler Says Bid To Buy Nokia HERE In Line To Avert Hacks

Daimler CEO Dieter Zetsche said the company wanted to buy Nokia Here to have better data security for self-driving cars. He added that the consortium consisting of Audi, BMW and Mercedes would look to make the software available to third-party carmakers. Currently, the deal to buy Here is hinging on who gets to own the patents for tech that allows cars to talk to mobile networks.
View Post