Fundraising
Snapdeal has completed multiple rounds of funding.
It received its first investment in January 2011, amounting to US$12 million from Nexus Venture Partners and Indo-US Venture Partners. Another round was done in July 2011 for funds amounting to US$45 million, from Bessemer Venture Partners and existing investors. A third round of funding worth US$50 million was completed the same year, from eBay and existing investors.[28]
In February 2014, Snapdeal raised US$133 million in a round led by eBay together with Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital.[29] The following month, it raised an additional US$105 million from BlackRock, Temasek Holdings, PremjiInvest and others.[30] SoftBank also invested US$647 million in October 2014, making it the largest shareholder in Snapdeal.[31]
In August 2015, Alibaba Group, Foxconn and SoftBank invested US$500 million in Snapdeal.[32] In February of the following year, Ontario Teachers' Pension Plan and Brother Fortune Apparel injected US$200 million in funds into Snapdeal at a valuation of US$6.5 billion.[33]
In May 2017, Snapdeal raised funding worth ₹113 crore from Nexus Venture Partners.[34][35]
In December 2022, Reuters reported that Snapdeal had cancelled its $152 million IPO due to unfavourable market conditions. The decision followed challenges in the tech stock market, influencing Snapdeal's reassessment and potential deferral of its IPO plans amidst a broader trend of declining valuations in the tech sector.[36]
Acquisitions
In June 2010, Snapdeal's holding company Jasper Infotech acquired Bengaluru-based group buying website Grabbon.com for an undisclosed amount.[37]
In April 2012, Delhi-based online sports goods retailer eSportsBuy.com was acquired.[38] This was followed by the acquisition of Shopo.in in 2013, which is a customer-to-customer (C2C) e-commerce platform.[39]
In 2014, Snapdeal acquired Doozton, a fashion product discovery technology platform, and Wishpicker, a technology platform that uses machine learning to deliver recommendations for gift purchases.[40] Both deals were completed for undisclosed amounts.[41][42]
