Home Retail Snapdeal co-founders contributed in latest funding

    Snapdeal co-founders contributed in latest funding

    By  
    SHARE

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

    Snapdeal founders to take 100 pc pay cut, firm commences layoffs
    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 Chairman , 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.