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Ratan Tata invests in Snapdeal

In a big boost to India's consumer internet story, Ratan Tata has invested in e-tailer Snapdeal in his personal capacity. TOI was the first to write about Tata's investment in the e-tailer. 

The 76-year-old chairman emeritus of Tata Sons credited with transforming India's largest private sector conglomerate with a string of marquee global acquisitions, is expected to be a minority investor in his personal capacity in the e-tailer.

Kunal Bahl, co-founder & CEO, said, "This is a very proud and exciting moment for the entire Snapdeal family. An investment by a legendary and respected figure like Mr Tata is an excellent validation of our focused strategy on building a long term enterprise and marks the start of a very important phase for the company." The company, however, didn't divulge the size of the investment. 

Ratan Tata may invest in e-tailer Snapdeal

Tata could be boarding Snapdeal just when the online marketplace, which has crossed $1 billion in gross merchandise sale by value — second only to Flipkart — with tough competition emerging from online retail juggernaut Amazon for No. 2 position in the country's burgeoning e-commerce market.

New rivalry: It's Amazon NRN Murthy vs Flipkart Azim Premji has over 5 million products across 500 categories from over 50,000 sellers and has a team of over 1500 members.

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