the electricity company Snapdeal Wednesday in new Delhi smoothly to raise $100 million m, the valuation of $1 billion. And cast parties including the Singapore state-owned investment company Temasek but Holdings (Temasek Holdings), asset management, BlackRock (blackstone), etc. Credit Suisses (Credit suisse) provides guidance for this round of financing.
Snapdeal overview 】 【
Snapdeal is primarily to Indian consumers of electric business platform, combined with its bulk properties with Amazon online retail experience, covers deals with common online shopping service. Snapdeal initially in a bulk discount for booth, high discount and rapid expansion of scale became Snapdeal characteristics of that time. After the financing cooperation with eBay, Snapdeal signed items Shared with eBay, the perfect degree of the platform to further improve.
Snapdeal developing rapidly in the Indian market, users in a year has risen from 15 million last year to 15 million, and its service system is relatively perfect, also for emerging services such as on the day of delivery. , according to a spokesman for the 2013 fiscal year, a total of $500 million profit.
founder Bahl valuation to the company did not comment, but he said the Snapdeal will continue to keep technology and marketing. Bahl estimated $600 billion worth of retail market in India, the electricity business accounted for less than 1%, but he believes that “India’s electricity on the dealer market opportunity big, although electricity at present small proportion, but the future development trend is obvious.”
[of India’s electricity opportunities and challenges 】
in a large population, regional complex, in India, the logistics system is not established entity retail always occupy the mainstream status, the electricity business is facing opportunities and challenges. Do Snapdeal electric business platform to maintain the flexibility of its own growth, avoiding the warehousing investment challenge, but also will not remain stable like amazon distribution experience, product quality also inevitably make mistakes occasionally. But as a new force in India market Snapdeal development to be reckoned with.
at present, Snapdeal website to provide services, intelligent device two main client platform, to provide users with free preferential information text message and email, also accept order by phone service. Diversified way of accessing to Snapdeal access to more clients and for his choice.
in the planning of founder Bahl, refine Snapdeal will also according to the different areas of the Indian market, in view of the regional markets offer a bulk discount service, fully “regionalization”.
financing situation 】 【
Snapdeal has conducted two financing this year. In February this year, at a time before from eBay, Bessemer Venture Partners, such as Intel Capital investors have raised $134 million investment. At this point, Snapdeal totaling $350 million.
Bahl said financing will be used for the expansion of the Snapdeal currently 250 team of engineers, and improve the environment of the electric business platform.
the at present, the company has not set out to the IPO, but, according to a Bahl Snapdeal future is expected to be an IPO in the United States — $1 billion valuation to a certain extent, also announced a Snapdeal good prospects for development.