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, Snapdeal.com 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
Snapdeal.com has over 5 million products across 500 categories from over 50,000 sellers and has a team of over 1500 members.