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Snapdeal App Crosses 50 Million Downloads on Google Play

Snapdeal App Crosses 50 Million Downloads on Google Play

By Gadgets 360 Staff | Updated: 31 May 2017 11:56 IST

Highlights

Snapdeal's Android app has crossed 50 million downloads
Snapdeal recently got an investment of Rs. 113 crores from its investors
Snapdeal is moving ahead with its acquisition talks with Flipkart

Online marketplace Snapdeal on Tuesday announced that it has crossed 50 million downloads on the Google Play Store.

"Achieving the milestone figure of 50 million downloads is a sure sign that more and more users are seeing value in the experience we provide," said Rajiv Mangla, Chief Technology Officer, said in a statement.

Over the last few months, Snapdeal has continually introduced features that make the user's experience faster and relevant.

"Through billions of daily clicks on our platforms and monthly consumer connects, we are constantly listening to our consumers' feedback and improving our offerings accordingly," Mangla added.

Earlier this week, Snapdeal raised over Rs. 113 crores from early investor Nexus Venture Partners and founders Kunal Bahl and Rohit Bansal, amid talks of a potential sale of the e-commerce firm to larger rival Flipkart.

NVP pumped in Rs. 96.26 crores in the round, while Bahl and Bansal contributed Rs. 8.45 crores each, according to regulatory filing with the Ministry of Corporate Affairs.

The shares were allotted on March 10, 2017, it added. Bahl and Bansal were allotted 1,300 Series J preference shares, while Nexus was given 14,810 preference shares, the filings showed.

It is not clear how long the fresh financing round will help Snapdeal in continuing operations as it faces intense competition from rivals Flipkart and Amazon. The cash-strapped firm, over the past few months, has trimmed workforce and shut down non-core operations in a bid to control costs.

Written with agency inputs

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