Jasper Innovative Marketing Solutions, which owns India’s largest e-commerce portal Snapdeal.com, has raised $12 million in a series B financing from Nexus Venture Partners and existing investor IndoUS Venture Partners. The company has raised money to expand globally.
It is present in 5 countries – Sri Lanka, Nepal, Bangladesh, Maldives and Singapore and it is now considering acquiring firms in Malaysia, Thailand, Philippines and Indonesia.
The firm has also allocated $2 million for domestic acquisitions. In June, 2010, Jasper acquired Bangalore-based startup Grabbon, which will be relaunched.[source][advt]
SnapDeal.com is India’s largest e-commerce platform that features great deals at an unbeatable prices on the best stuff to do, see, eat, and buy in your city. It provides discount vouchers in all the major cities across India.
The website offers 50%-80% discounts at fine dining restaurants, movie tickets, shopping at the top brands, beauty and health packages, lifestyle products, travel, entertainment and much more.
Kunal Bahl, CEO of Jasper, said:
We are considering 6-7 candidates that are in the range of $25,000- $1 million and plan on stock-and-cash deals. We are also looking at domestic acquisitions, companies that are allied to the group buying space.
The payments are made through credit cards, debit cards, netbanking accounts and other payment channels on www.snapdeal.com and once the payment is received, the customer will get an SMS and an email with a link to easily print their SnapDeal voucher. The same can be redeemed at the mentioned outlet/s within the deal validity period.