From being at the brink of a virtual wipe-out from the rather punishing Indian e-commerce market to emerging as a rare money making e-commerce entity, Snapdeal has had quite a turnaround. And looks like that turnaround had gone down well with the investor community.
A report from Times of India now states, that Snapdeal could well be looking at raising a fresh $100Mn at a $800Mn-$1.2Bn valuation. Softbank could be putting in half of that money with new investors likely to put in the rest. The talks are still preliminary though and may or may not result in a final raise.
The report further states, that Snapdeal is working with Bank of America Merrill Lynch as its adviser and talking to both local and global investors. The discussions between Snapdeal and various investors are happening at a valuation ranging from $800 million to $1.2 billion, said the two sources mentioned earlier, and the final number could change. The company is currently doing net revenue of about $140 million.
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