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Snapdeal to invest up to USD 200 million to strengthen delivery network

Snapdeal to invest up to USD 200 million to strengthen delivery network

SoftBank-backed Snapdeal had invested in a minority stake in logistics company GoJavas, Snapdeal Co-founder Rohit Bansal said on Tuesday.

(Photo: Reuters) (Photo: Reuters)

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.

(Reuters)

Published on: Mar 17, 2015, 3:45 PM IST
Posted by: Trupti Agarwal, Mar 17, 2015, 3:45 PM IST