Snapdeal has managed to secure a fresh funding of $500 Million from big international players like Alibaba, Foxconn, and Softbank. According to sources Alibaba’s founder, Jack Ma was in talks with Snapdeal from last 6 months or so. After investing in ewallet, ecommerce startup PayTm , its Alibaba’s second major investment in an indian company. It is also Snapdeal’s second biggest round after the whopping $627 Million from Japanese investors Softbank.
Some other existing investors like Temasek, BlackRock, Myriad, and Premji Invest have also participated in this round. have also participated in this latest funding round.
After the funding round Kunal Bahl (CEO Snapdeal) stated that,
We see this milestone as a significant endorsement of Snapdeal’s strategy and commitment to creating life changing experiences for millions of small businesses and consumers in India. With global leaders like Alibaba, Foxconn, and SoftBank, in addition to our other existing partners, supporting us, our efforts towards building India’s most impactful digital commerce ecosystem will be propelled further, enabling us to contribute towards creating a Digital India.
Also, snapdeal has got themselves a brand new office in Gurgaon, the workspace covers around 450,000 sq. ft and can house upto 4500 employees. The ecommerce giant has tried to give competition to their biggest rival Flipkart who had recently established their new office in Bangalore.
Snapdeal has spent a hefty 144 crore on this new establishment. Check out the below images and tell us what you feel about this new workplace.
The company has tried to keep the environment fresh and innovative.
The place is fun to work and be around.
Snapdeal has seen major growth in last 2-3 years as the company is just 5 years old.
There are a lot perks for employees.
There are places for employees to hangout and chill.
Overall 4500 employees can be hosed in the establishment.
Do share your views on Snapdeals new office and also tell what do you think Snapdeal can do with this $500 Million funding to compete with high budget players like Amazon and Flipkart. With this heating up of the Indian ecommerce market, who shall emerge as the market leader.