E-commerce company Snapdeal is evaluating a possible listing in the United States in a couple of years, its chief executive Kunal Bahl has said.
He was replying to a query posed by a financial daily which reported that the company is trying to raise $150 million in funding.
While he didn’t confirm if the company would raise $150 mn, the report said that the money would be used to upgrade technology, improve marketing and fund acquisitions.
Snapdeal had previously raised $50 million in funding from eBay and existing investors. In all, it has so far received $102 million in funding. The company had pivoted to the marketplace model in April 2012.
Rival e-commerce firm Flipkart recently closed a massive $360 mn funding round.
Meanwhile, the Indian government is revisiting its ban on retail e-commerce in the country. If it comes through, it could pave way for Amazon’s full fledged entry to India. We could also see eBay charting an inorganic growth plan in India. Inbound acquisitions are likely to increase.