NEW DELHI: India’s largest group buying portal snapdeal.com is in advanced talks to acquire an e-commerce company, some company officials revealed on the condition of anonymity.
Officials said that snapdeal, which has raised 40 million (Rs 190 crore) last year is searching a mid-to-small sized partner to expand its business beyond the group buying space. However, they refused to provide more details. Moreover, the co-founder and CEO of Jasper Innovative Marketing Solutions, Snapdeal's parent firm, did not reply to an email seeking comments.
Snapdeal last acquired a company in June 2010, when it bought Bangalorebased group buying site Grabbon.com for an undisclosed amount. The company is eyeing the expected boom in the e-commerce market, which expected to grow to $25 billion by 2015 from $10 billion now.
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