Snapdeal, India?s Fast-Growing eCommerce Platform, Raises $40 Million From Bessemer And More

As Groupon's business in India continues to hit snags, a homegrown daily deal company is quickly snatching up market share in the local deal space. New Delhi-based Snapdeal.com, which, like Groupon features daily deal coupons at discounted rates, announced today that it has raised $40 million in series B funding from Bessemer Venture Partners, along with contributions with existing investors Nexus Venture Partners and IndoUS Venture Partners. According to Snapdeal Founder and CEO Kunal Bahl, this is the largest single round of private investment in an internet company in India to date.

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