Ratan Tata may invest in online marketplace snapdeal
Snapdeal is an Indian online market place that offers nearly 4 million products across various categories from over 20,000 sellers, shipping to 4,000 towns and cities in India.
Current news is that Ratan Tata, Chairman Emeritus of Tata Sons is conveyed to be considering a personal investment in Snapdeal, at a time when online retail business is generating investor euphoria on the back of exponential growth rate. Sources close to Snapdeal said that Tata visited the Delhi head office last month to address employees.
In the current e-retail market, Flipkart and Amazon are the India’s fast-growing e-commerce market with so many varieties of products and attractive offers. Soon Snapdeal will join in this club with the huge investment of Tata. Currently Flipkart acquired first place in leading retailer in India with gross sales of about $3 billion. Amazon stands in second place with $2 billion investment and soon Snapdeal will double their investment with this new support by Tata.
While his holding is unlikely to be high, its real significance would lie in the buzz it would create for the four-year-old firm. Tata has always had in interest in technology; even so, the deal, if it goes through, would mark the ultimate coming together of the old and new guard.
Kunal Bahl, co-founder of Snapdeal, did not respond to the query, the newspaper added. The 76-year-old, who transformed India's largest private sector, is expected to be a minority investor in his personal capacity in the e-retailer.
Ratan Tata may invest in online marketplace snapdeal Reviewed by Praveen P on Thursday, August 07, 2014 Rating: