Home Retail Snapdeal co-founders contributed in latest funding

    Snapdeal co-founders contributed in latest funding


    Snapdeal co-founders Kunal Bahl and Rohit Bansal, who raised funding of $627 million for their company from Japanese billionaire Masayoshi Son’s SoftBank, also contributed their mite making personal investments in the just concluded round as media reports have indicated.

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    According to the email, the company has initiated a process of combining teams, reducing layers, eliminating non-core projects and strengthening the focus on profitable growth

    The latest round of funding also saw participation from existing institutional investors in the company like BlackRock, the world’s largest asset manager, PremjiInvest, the investment arm of Wipro Chairman Azim Premji, Temasek, the investment company owned by the Government of Singapore and hedge funds Tybourne Capital and Myriad Asset Management as media reports have highlighted. As sources have revealed that the latest round is estimated to have valued Snapdeal at up to $2 billion.