Express Computer
Home  »  News  »  E-business is big biz for VC funds

E-business is big biz for VC funds

0 382

The nascent but rapidly growing $11-billion domestic e-commerce market continues to draw big-ticket investments. On Wednesday, Delhi-based restaurant discovery service Zomato.com announced raising $60 million at a post-money valuation of $660 million.

This round of funding led by Info Edge and Vy Capital, along with existing investor Sequoia, will help Zomato accelerate its global expansion plans and new product development.

Zomato attracting the fresh round of funding follows Japan’s telecom and media major SoftBank late last month pumping in a cumulative $840 million into Snapdeal and Ola. The total investment in e-commerce firms has already crossed the $3-billion mark in the first 10 months of the year, which is nearly a fivefold jump from 2013.

The e-commerce market in India is projected to reach around $20 billion by 2015, largely fuelled by the growth of internet users and penetration of smartphones along with measures like e-tailers offering consumers the facility of cash on delivery in a country where the usage of credit cards is still not widespread.

What hearten those bullish on e-commerce is the projection by IAMAI and IMRB International on Wednesday that the number of internet users in the country is expected to grow 32% to 302 million this year from 213 million at the end of December last year.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image