SnapDeal Raises $40 M of Series B Funding
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Bangalore, India – SnapDeal, an India-based daily deals provider has raises a series B funding amounting to $40 million from raised $40 million in series B funding from Bessemer Venture Partners with back up funding from existing investors Nexus Venture Partners and IndoUS Venture Partners making it the biggest venture funding for an Indian internet company to date.
Snapdeal will be using the funding for company expansion an global market reach. The main reason why SnapDeal rapid growth in 2011 is its market of branded products such as fashion wear, accessories and apparels. The company is now considering in reaching to southeast Asia and MiddleEast consumers.
Funding Total: $40,000,000
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|Investors: Bessemer Venture Partners, Nexus Venture Partners, NEA IndoUS Ventures|