Indian eCommerce rakes in investments

Indian eCommerce rakes in investments

Several Indian eCommerce players are rapidly raking in investments, with India's number 2 (Snapdeal) receiving 200 million dollars in funding. Market leader Flipkart is also mentioned in the local media.

Booming business

Snapdeal, India's second largest eCommerce website, recently acquired 200 million dollars (179.5 million euro) from a group of institutional investors, business paper De Tijd writes. Barely 6 months ago, it had already received half a billion dollars in investments from Alibaba, Softbank and Foxconn. Since it was founded, Snapdeal managed to attract 1.8 billion dollars (1.6 billion euro) in funds.


That is a huge sum, but still well below what "India's Amazon", market leader Flipkart, managed to attract. In total, it obtained 3.2 billion dollars (2.87 billion euro) in funds, while local media estimate it still has several billion dollars in reserve, according to De Tijd.


Indian eCommerce has experienced a very large growth, from 2.06 billion euro in 2012 to 15.7 billion euro in 2014, nearly 8 times as much. This obviously attracts interest from foreign investors.  


Belgian link

There is also a Belgian link: both Indian internet giants are not unknown to Sofina, a Belgian holding with 2 % in Flipkart and a small stake in Snapdeal. It acquired the stake in April last year when Flipkart acquired Indian Freecharge and partly paid for that deal in shares.


British business paper Financial Times reported yesterday that Sofina - alongside Blackrock, a Chinese fund and others - invested another 200 million pounds (256.5 million euro) into The Hut, the British owner of websites like Mankind (beauty for men), Coggles (designer clothing), Exante Diet (diet food) and Myprotein (sports food).

Questions or comments? Please feel free to contact the editors

Gerelateerde items

Amazon workload prompts suicide attempt


An Amazon employee has sustained injured after he jumped off the company's main building in Seattle, in what apparently was a suicide attempt because of the American web shop's intense workload.

Amazon fights fake reviews with new rules


American web shop Amazon has created a new rule for user reviews: customers can only rate five items every week, in an attempt to ward off fake reviews.

European Ministers clear path for online shopping abroad


Citizens in the European Union should be able to buy something online in another European country much more easily. The European Ministers of Economy reached an agreement in this regard, but now the European Parliament still has to do the same.

Alibaba acquires stake in discount chain


Chinese Alibaba has acquired a 32 % stake in Sanjian Shopping Club, a chain with 160 discount supermarkets in China and supposedly more than one million members.

Rakuten is FC Barcelona's main sponsor


Starting next season, Rakuten (Japan's version of Alibaba or Amazon) will become Spanish football club FC Barcelona's main sponsor. The move is quite remarkable, because the Japanese giant shuttered a portion of its European activities earlier this year.

Danish Bestseller acquires Miinto


Anders Holch Povlsen, who owns Danish online retailer Bestseller, has acquired the Miinto Group, a Danish online platform with some 20,000 fashion brands' products.

Back to top