Ecommerce company Snapdeal.com will invest $150 million-$200 million (roughly Rs. 942 crores - Rs. 1,256 crores) to strengthen its delivery network in the next financial year, an executive said.
The SoftBank backed company had invested in a minority stake in logistics company GoJavas, Rohit Bansal, co-founder of Snapdeal, said on Tuesday. He did not say how much the investment was worth.
Getting logistics and deliveries in place is a critical requirement for companies 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.
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