Snapdeal Raises $40 Million

TECH CRUNCH - July 28 - As Groupon’s business in India continues to hit snags, a homegrown daily deal company Snapdeal has raised $40M in series B funding. Snapdeal’s new round adds to the $12M it raised back in January, bringing total investment to $52M. Snapdeal is scaling quickly, and this new infusion of capital will likely give it the cushion it needs to continue pushing into new markets. According to Snapdeal Founder and CEO Kunal Bahl, the startup is currently averaging 1.5M new members per month.

by Rip Empson
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