Zee Media Bureau
New Delhi: Ratan Tata, chairman emeritus of Tata Sons might invest in homegrown e-commerce giant Snapdeal, a daily newspaper reported on Wednesday.
This could be Tata's personal investment through a secondary sale, the paper reported.
The paper has not tendered exact amount of the deal, however it said that Tata could become a minority investor in the online shopping portal. Quoting insiders, the paper has said that Tata had visited Snapdeal office a month ago and had addressed its employees.
Snapdeal had raised USD 100 million in a new round of funding from Temasek, BlackRock Inc, Myriad, Premji Invest and Tybourne this May.
In February, Delhi-based firm had raised about USD 133.7 million (about Rs 830 crore) from its existing investor, eBay and others.
"We manage our funds well and are well-capitalised. This round of funding was more to bring on new partners who can play an important role in the future of the company than just to raise funds," Snapdeal co-founder and CEO Kunal Bahl told PTI, declining to comment on the total funds raised so far.
Snapdeal's existing investors include Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital.
With PTI Inputs
