• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, May 13, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Luxembourg-based Clouse SA Invests $21 million in Snapdeal

by Chinmay Bidkar
August 26, 2016
in News
Reading Time: 2 mins read
0
Luxembourg-based Clouse SA Invests $21 million in Snapdeal
TwitterWhatsappLinkedin

 

You might also like

Nissan Announces 20,000 Job Cuts Amid Projected $5 Billion Record Loss

Samsung Galaxy Z Fold 7 Leak Teases Ultra-Thin Design and Almost Invisible Bezels

Celebrating 20 Years with the Launch of a New iPhone Featuring Mostly Glass With an All-Screen Design

Untitled2

26 August 2016, India :

Luxembourg-based firm Clouse SA invested more than $21 million as part of its previously announced funding round in Jasper Infotech Pvt. Ltd, which runs e-commerce firm Snapdeal, according to documents available with the registrar of companies.

Founded in 2010 by Kunal Bahl and Rohit Bansal as a deals site, Snapdeal now claims to have 300,000 sellers and more than 50 million products across 1,000 categories. Snapdeal currently delivers goods to more than 6,000 locations in India.

“The raising of fresh funds at a consistent pre-money valuation is reflection of the robust performance of Snapdeal and its continued focus on building a long-term business based on strong fundamentals like best-in-class customer experience and consistent growth in net revenue. There is huge interest in the digital commerce market in India and investors are keen to back the businesses focused on real performance metrics,” said a Snapdeal spokesperson.

According to documents filed with the Registrar of Companies, the latest tranche is part of the Series J round announced by the company a little over six months ago, and which saw the entry of Singapore-based investment entity Brother Fortune Apparel Pte Ltd, on to the company’s investment cap table.

Recently, it announced that it is starting a next-day deliver programme called Snapdeal Gold and has added 5 million products which are eligible for this and that it would be adding 10 million more for the festival season. Snapdeal also said that it has set aside Rs 200 crore for advertising spends for the holiday season.

The latest funding announcement comes at a time when the Gurgaon-based company has struggled to keep pace with rivals Bengaluru-based Flipkart and Amazon India, the local unit of the Seattle-headquartered online retail giant, having lost significant market share to the latter that has resulted in it being displaced as the country’s second-largest online marketplace in terms of shipments.

Also read-
TRUECALLER USERS ARE NOW MAKING HALF A BILLION CALLS PER MONTH; ANNOUNCES GLOBAL PARTNERSHIP WITH HUAWEI
FLIPKART’S ‘GROWTH CAPITAL’ PROGRAM FOR SELLERS CROSSES RS. 125 CRORE MILESTONE

 

Tags: Clouse SAecommercefundingKunal BahlRohit BansalSnapdeal
Tweet54SendShare15
Previous Post

Truecaller Users are Now Making Half a Billion Calls Per Month; Announces Global Partnership with Huawei

Next Post

Couponhaat Gearing Up To Raise $2 million Series A Funding

Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

Recommended For You

Nissan Announces 20,000 Job Cuts Amid Projected $5 Billion Record Loss

by Sneha Singh
May 13, 2025
0
Nissan Announces 20,000 Job Cuts Amid Projected $5 Billion Record Loss

Nissan Motor Company is said to be cutting another 11,000 jobs globally, its overall workforce cut to about 20,000 jobs, Japan's public broadcaster NHK reported. The Japanese carmaker...

Read more

Samsung Galaxy Z Fold 7 Leak Teases Ultra-Thin Design and Almost Invisible Bezels

by Anochie Esther
May 13, 2025
0
Galaxy Z Fold 7

As the summer inauguration window approaches, the rumor mill is starting to heat up around Samsung’s next flagship foldables and if the latest leaks are accurate, the Galaxy...

Read more

Celebrating 20 Years with the Launch of a New iPhone Featuring Mostly Glass With an All-Screen Design

by Anochie Esther
May 13, 2025
0
Apple

As Apple approaches the 20th anniversary of the iPhone in 2027, it appears the tech giant is preparing to celebrate the milestone not just with fanfare, but with...

Read more
Next Post
Couponhaat

Couponhaat Gearing Up To Raise $2 million Series A Funding

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?