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Snapdeal.com:India’s Largest Online Shopping Marketplace | India24
Snapdeal.com is an online marketplace, headquartered in New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal.com was started in February 2010 as a daily deals platform inspired by Groupon.com but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become the largest online marketplace in India offering an assortment of 4 million+ products across diverse categories from over 20,000 sellers, shipping to 4,000towns and cities in India. Funding Snapdeal then raised a 3rd round of funding worth $50 million from eBay and received participation from existing investors – i.e. Bessemer Venture Partners, Nexus Venture and IndoUS Venture Partners. Snapdeal received its 4th round of funding of $133 million on Feb-2014. The 4th round of funding was led by eBay with all the current institutional investors, including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital all participating. Snapdeal received its 5th round of funding of $105 million in May-2014. The 5th round included investments by Blackrock, Temasek Holdings, PremjiInvest and others.The round valued SnapDeal at $1,000,000,000. Snapdeal received its 6th round of funding in Oct-2014 from Softbank with investments worth $627 million in fresh capital.This makes SoftBank the largest investor in Snapdeal. Acquisitions In June 2010, Snapdeal acquired Bangalore-based group buying site, Grabbon.com. In April 2012, Snapdeal acquired esportsbuy.com, an online sports goods retailer based out of Delhi. In …