Online marketplace Snapdeal on Tuesday said it is well-funded and is not looking at financing to grow its business even as the burgeoning e-commerce market in India sees competitors raise billions of dollars to fuel expansion.
Bullish on e-commerce potential in India, Mahindra group is set to expand in the segment with its specialty retail venture Mom & Me and also gearing up to adopt franchise model for the next stage of expansion.
People love online retailers because of easy accessibility and hassle-free experience. Over the years, online shopping stores have emerged as a better alternative to the crowded parking-scarce shopping malls.
Ratan Tata said e-commerce is one of the areas where is he looking to personally invest because of its "good potential" as a large proportion of the country's consuming public do not have the required access to goods.
Upping its ante, e-Commerce giant Amazon on Wednesday said it will invest $2 billion (over Rs 12,000 crore) in India to expand business, a day after its largest Indian rival Flipkart announced USD 1 billion in funding.