Snapdeal acquires minority stake in Pepper Tap
Q. e-Commerce major Snapdeal has attained minority stake in which grocery delivery service from India on 29th September 2015?- Published on 30 Sep 15a. Pepper Tap
b. BigBasket
c. MyGrahak
d. AaramShop
ANSWER: Pepper Tap
e-Commerce major Snapdeal has acquired a minority stake in hyperlocal grocery delivery service Pepper Tap. It has led the USD 36 million funding round. Funding will be employed for expanding Pepper Tap’s presence to over 75 cities from present 18. Pepper Tap co-founder and CEO is Navneet Singh. Pepper Tap is looking to raise USD 20 million and current round of funding saw finances flowing in from Sequoia India and SAIF Partners and investors like Ru-net, JAFCO, and BeeNext.
Grocery constitutes 59% of retail GDP in India. Snapdeal has recently acquired startup Freecharge as well as MartMobi, Letsgomo Labs and Reduce Data. Founded in the year 2010, it has over 90 million registered users and counts SoftBank, Alibaba, eBay and Foxconn among its investors. Pepper Tap gives customers the ability to select from 15,000 products across categories like bath and hygiene products, gorceries and generates 20,000 average transactions every day.
