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Snapdeal acquires online retailer esportsbuy.com
Posted On: 04-04-2012 04:41:52 AM

The two year old e-commerce portal Snapdeal is reported to have bought the online sports goods retailer esportsbuy.com. The acquisition amount is being estimated to be between Rs 50-70 crores. The sports portal esportsbuy.com was founded by Amit Monga and Prateek Agarwal. Within a year of launch, esportsbuy.com had clocked revenues of about Rs 10 crores. Last year, Snapdeal raised Rs 200 crores from venture funds Bessemer, Nexus and Indo-US Venture Partners. As per reports in the media, Kunal Behl, CEO Snapdeal, has said that this move would strengthen their presence in sports retailing, an area which is yet devoid of any organised retailers. This is the second acquisition by Snapdeal, which had acquired the Bangalore based group buying site Grabbon.com for an undisclosed amount in June 2010. Snapdeal was founded in February 2010 by Kunal Behl, a Wharton School of Business alumnus and schoolmate Rohit Bansal.

 
 
 

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