The Indian e-commerce space is catching the fancy of many global players and private equity funds of late. And why not? Indian E-tailing sector in seen having a huge untapped potential and is expected to grow by leaps and bounds.
A recent report by rating agency Crisil pegs the online retailing to grow at a whopping 50-55 percent and becoming a Rs 50,000-crore industry by 2016. Excluding travel services and tickets, the Indian E-commerce market is worth USD 3.1 billion and is estimated to grow to USD 22 billion in five years, says a CLSA report released in November 2013.
There is a lot of buzz in this sector with players gearing up to expand horizons.
Also Read: M-commerce gathers steam; it is 30% of e-commerce revenues
The latest being, Flipkart India Pvt. Ltd looking to acquiring majority stake in fashion portal Myntra.com. This cash-and-stock deal is likely to value Myntra at about USD 300-USD 330 million and would be announced this week, says a Mint report.
Flipkart had raised USD 360 million over two rounds, last year.
Bangalore-based Myntra expects to post sales of Rs 6,000 crore in two years. Smaller non-metro towns and cities contribute two-third of Myntra's business. Myntra garnered about Rs 300 crore (USD 50 million) in February 2014 and its own brands include Roadster, Dressberry, Mast & Harbour, Kook n Keech, Anouk. It is an exclusive retailer for New Balance, Supra and Peacot.
Just few months after US online giant eBay pumped a huge sum of USD 134 million or Rs 830 crore in Snapdeal, the online marketplace is yet again in advanced talks to garner more funds from investors.
According to Mint, Snapdeal could announce the new funding within the next month, and at least one new investor will participate in this round.
This would be Snapdeal's fifth round of funding.
Snapdeal has 30,000 sellers on board and most of them are small and medium enterprises. It aims to more than triple its seller base to 1 lakh in the next 12 months. Also, it has sellers from 200 towns and expects it to grow to about 500 this year.
In April this year, Snapdeal bought Doozton.com, an online product discovery technology platform, for an undisclosed amount.
Promoted by Delhi based Jasper Infotech Pvt, Snapdeal.com started operations in 2010 as a daily deals platform, but later converted into a marketplace.
Meanwhile, in March this year, online classifieds firm Quikr raised USD 90 million (Rs 549 crore) through a private-equity deal that reportedly values the company at around Rs 1,500 crore.
While the year gone by was a tough ride for the Indian e-commerce space as players struggled for funding, some experts foresee major players coming together to build on synergies.
PM designate and pro-reform leader Narendra Modi's midas touch may usher in more funds for the sector if the government opens it up for foreign direct investment (FDI).
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