Deals

Snapdeal nabs $50M from eBay & others to dominate online Indian e-commerce

Popular Indian e-commerce marketplace Snapdeal has raised $50 million in a new round of funding to help it continue to grow and beat out similar sites, according to NextBigWhat

Snapdeal used to offer a daily deals model up until early 2012, but it pivoted to a full-service e-commerce platform in April 2012. The company now helps sell products online in many categories, including mobile devices, tablet, computers, clothing, perfume, and books.

The latest round of funding was reportedly raised four months ago and was led by eBay, with participation from existing investors including Bessemer Venture Partners, Nexus Venture Partners, and IndoUS Venture Partners. Including this round, Snapdeal has raised $102 million of funding.

Neither Snapdeal or eBay have confirmed the report, but we have reached out for comment.