May 21, 2014: 
to follow the other 3 Indian start ups who also have a billion $ valuation now – Flipkart, Mu-sigma and InMobi. Wipro Chairma Premji’s investment vehicle, Premji Invest is one of the five investors along with Temasek Holding, Blackrock, Myriad and Tybourne, both based out of Hong Kong.
Snapdeal is headed by 31 year old Kunal Behl. The company now have around 500 categories of products shopped through their online store with over 25 million registered consumers. The company has planned for achieving $1 billion sales turnover this fiscal year. Indian online retail industry valued at Rs 50,000 crore by CRISIL is seeing a cut throat competition among the three leaders, Flipkart, Snapdeal and the global brand Amazon. All these players recently introduced deals including same day and next day delivery.
It seems like Indian Online retail is on a roll with investment pouring in to firms like Myntra again from Premji Invest. Amazon’s entry has catapulted competition in the market and it certainly seems to be on the way up.
