Snapdeal Raises $12mn from Nexus Venture Partners and IndoUS Venture

We earlier covered the rumors of Snapdeal’s funding (from NEA-IUV) and while initially the funding was for Jaspers, the company has now announced raising $12 million from Nexus Venture Partners and NEA-IUV.

With Gropon entering the Indian market (through SoSasta acquisition), expect a lot of action in this space. Snapdeal owing the #1 player is poised to define the market, though they need to get into brand play (as opposed to services, like spa etc).

What’s your take?

Couple of days back, Intel Capital funded Buzzintown too entered the deal buying model.

Aside, we recently interviewed Kunal Bahl (cofounder of Snapdeal) and will share the Snapdeal story very shortly.