[Abstract]Snapdeal is India’s most influential online electricity supplier market.
technology news March 23rd, won eBay and Softbank in 2014 (SoftBank) and other companies inject electricity India startup Snapdeal.com plans to raise $1 billion of funds to investors including Foxconn, in the new round of fund-raising case. According to people familiar with the matter, if the plan is implemented, Snapdeal will become one of the most profitable start-ups, its market value will exceed $7 billion.
currently, Jasper Infotech Snapdeal has become the most influential online electricity supplier market in India. The company was founded in 2010 by Baer (Kunal Bahl) – Kunar and his childhood friend Tracy – Osaka Searl (Rohit Bansal) jointly set up at the beginning, Snapdeal is just an electronic coupon site. Subsequently, Baer began to study like hunger and thirst to include eBay, Zappos, and Amazon, these Alibaba enterprise operation mode, and use the advantages of the commercial mode of these enterprises.
Baer believes that his company can provide a platform for the best independent businesses for their online sales of high-quality goods. Therefore, in order to give India consumers confidence in online retail, the company sells only new products, and provide seven days free return service. Up to now, Snapdeal has more than 40 million users and 100 thousand businesses, the market value of $2 billion.
said that Foxconn is still in negotiations with the Snapdeal stage, if the negotiations succeed they will establish a strategic partnership, and may involve the stock investment, but it is not yet clear the specific amount of investment Foxconn. However, informed sources said, Foxconn will be only one of many potential investors Snapdeal round of financing.
, however, a tricky problem is whether the Alibaba group will participate in this round of financing Snapdeal. Ali group had been in talks with Snapdeal investment, but after due diligence, the company seems to have been less likely to invest in Snapdeal, so Ali group exit may greatly reduce the amount of financing Snapdeal.
in addition to the Alibaba and Foxconn, some potential investors individual equity firms and other institutions investment is one of the Snapdeal, and the final prospectus list is likely formally finalized in the next few weeks. The source pointed out that, due to the uncertainty of Ali group, the size of the Snapdeal round of fund-raising or only $500 million, which will also make the company’s future market capitalization has shrunk to $6 billion.