SnapDeal.com raises $12 Million

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

SnapDeal.com raises $12 Million

Jasper, the parent company of SnapDeal.com, which is already among the top 35 websites of India, in terms of traffic, has raised $12 million from the leading investors in the Indian digital space, Nexus Venture Partners and Indo-US Venture Partners.

According to Kunal Bahl, CEO of Jasper, "The investment will help us to enhance our 300-person strong team by attracting world-class talent and to further increase our reach within and outside India. It will also help us in inorganic expansion in the domain of marketing platforms for SMEs and well-established brands."

Snapdeal.com which is Jasper's consumer facing business is a unique offering started in February 2010, which offers average savings of 50% - 90% at popular restaurants, spas, salons and movie theatres, among other leading categories. Consumers can log on to the site and purchase attractive deals at popular destinations across their city. In the short span of time since its inception, SnapDeal now has over a million subscribers, and is adding a new subscriber every 7 seconds.

Jasper also owns other consumer marketing platforms like MoneySaver and the recently launched BabyBox. The company has operations across 50 cities in India, and has worked with over 50,000 retailers from various categories.


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