The amount is still not disclosed and varied speculations are being made about it. A day before Snapdeal signed a deal withTata Value Homes to sell apartments across five cities, namely, Bangalore, Chennai, Pune, Mumbai and Ahmedabad. This Snapdeal-Tata Value Homes deal will cover 1,000 homes with home prices ranging from $30,000-$116,000 (Rs.18-70 lakh).
Snapdeal co-founder and chief executive Kunal Bahl said, “an investment by a legendary and respected figure like Mr. Tata is an excellent validation of our focused strategy on building a long term enterprise and marks the start of a very important phase for the company.”
“It is a big first out here and sets the stage for e-commerce in India participating in lives of consumers in ways that include many things beyond physical products as well,” Bahl added.
Snapdeal has crossed $1B in sales this year according to an estimation. It is growing rapidly and is focussing on continuous improvements in delivery, services and product variety.