ebay leads 133.7 million dollars to invest in India's largest shopping site

According to sources, ebay has invested 133.7 million of dollars to invest in India's largest online shopping website Snapdeal, ultimately or possibly full authority to buy the site. It is reported that in this investment, most of the money from ebay.

In January this year, there have been reports that Snapdeal is making 100 million of dollars in financing, and if the financing is completed, its market value will reach 750 million to 1 billion U.S. dollars. Last June, ebay invested 50 million dollars in the Indian online shopping site. In Wednesday, ebay said the company had a larger share of snapdeal ownership, but did not disclose a specific share of its shares.

"The company is very excited about the business prospects of Snapdeal and ebay India," said Jay Lee, senior vice president and managing director of ebay Asia Pacific. "and Snapdeal spokesman said last month that the company is likely to IPO in the US next year and that its sales will reach $500 million trillion in the fiscal year ending in March."

Snapdeal co-founder and CEO Counars Barr (Kunal Bahl) said that in the new round of financing, the company's previous institutional investors have also been involved in financing, including the Angel stage investment agency Kalaari Capital, the VCS Nexus Venture Bessemer, Venture venture capital (PARTNERS,BVP), Intel Global Investment Corporation (Intel Capital) and VC Saama.

Devin Wenig, an ebay marketplaces division president, said in an interview this week with Davin Winnig, the tech news website, that investing or possibly bringing together a discretionary deal, as ebay has done in other markets around the world, But the company has yet to make a decision on this.

"When we are investing, or working with a third party like Snapdeal, we want to be successful and hopefully eventually we will be able to move forward in real time." "Wenig said. "We have all along been making minority investments, and at times the investment is progressing well and we are able to take the fact that the next step is to buy the target company." ”

Snapdeal was founded in 2010, the company's business model is similar to Groupon, but later the business model into the online E-commerce market, including the business scope of about 20,000, product types from mobile phones to jeans involved in various categories. The company's rivals in the Indian market are Flipkart, Amazon India and ebay's subsidiaries, which have 500 million of billions of dollars in investment money.

Earlier this month, Snapdeal CEO Counars Barr, Kunal Bahl, said in an interview that the company's total sales were expected to reach $1 billion trillion in the coming fiscal year. Wenig said, "Success is the interaction between two brands, close cooperation." "In the future, ebay may help Snapdeal to sell in the US," he said.