Funding history
Snapdeal's early money came from venture funds. It took 12 million dollars in January 2011 from Nexus Venture Partners and Indo-US Venture Partners, followed by 45 million dollars in July 2011 from Bessemer Venture Partners and existing investors, and a third round of 50 million dollars the same year from eBay and others.[1]
In February 2014 eBay led a round of 133 million dollars that also included Kalaari Capital, Nexus, Bessemer, Intel Capital and Saama Capital.[6] A month later BlackRock, Temasek Holdings and PremjiInvest put in another 105 million dollars, and in October 2014 SoftBank invested 647 million dollars, becoming the largest shareholder.[1]
In August 2015 Alibaba Group, Foxconn and SoftBank together invested 500 million dollars.[1] In February 2016 Ontario Teachers' Pension Plan and Brother Fortune Apparel led a round of 200 million dollars that valued the company at 6.5 billion dollars.[8]
The last round was a rescue rather than a growth round. In May 2017, with a sale to Flipkart under discussion and cash running out, Snapdeal received 113 crore rupees from Nexus Venture Partners and its two founders, with Nexus issued shares worth 96.26 crore rupees, and Bahl and Bansal taking shares worth 8.45 crore rupees each.[4][5]
A listing was attempted next. The company filed for an initial public offering in 2021, and in December 2022, with technology valuations falling, it withdrew the 152 million dollar issue.[1] Since then it has been funded by its own operations and its group companies rather than by fresh equity in a public market.[1]
