Snapdeal.com has announced to raise large amount of funds from one or two Asian investors, as reported by VCCircle.
The report further states that Japan's top internet and telecommunications company Softbank is in talks with Snapdeal. While the investment amount approximately valued at $500 million.
The Delhi-headquartered e-commerce company is looking at a public float in the next 18-24 months.
Most recently, Snapdeal has raised an undisclosed amount of funding from Ratan Tata, Former Chief, Tata Group and currently Chairman emeritus of group’s holding company Tata Sons.
Prior to Tata, in May, Snapdeal had raised $100 million (Rs 590 crore) from US-based BlackRock Financial Management, Singapore’s sovereign wealth fund Temasek, Hong Kong-based Myriad Asset Management and Tybourne Capital Management.
This funding came barely three months after the e-commerce player raised $133.77 million (Rs 830 crore) in a round led by existing investor eBay Inc with participation from other existing investors Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital.
