Snapdeal.com, the e-commerce major, will invest US $150 million-$200 million to strengthen its delivery network in the upcoming 2015-16 financial year, an executive said.
The SoftBank-backed company had invested in a minority stake in logistics company GoJavas, Snapdeal Co-founder Rohit Bansal said on Tuesday. Bansal, however, did not say how much the investment was worth.
Getting logistics and deliveries in place is a critical requirement for online retailers like Snapdeal, Flipkart and Amazon's India unit as they fight to win over the country's 300 million-strong urban middle class, who have come to expect free deliveries and returns as well as great deals on everything from clothes to car accessories.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today