eBay announced today a commercial partnership with Snapdeal following an investment into the company. The partnership seeks to drive more consumer demand for eBay and Snapdeal merchants along with wider selection for India consumers in a rapidly growing market.
According to recent research from the Internet & Mobile Association of India, the Indian eCommerce Market is projected to grow from approximately $1.2 Billion in 2012to $1.8billion in 2013.
Mr. Jay Lee, Senior Vice President & Managing Director, eBay Asia Pacific said, “The growth of online shopping in India is at an exciting phase. We chose to partner with Snapdeal due to their complementary business model, good management team and strong brand.”
Mr. Kunal Bahl, Co-Founder & CEO, Snapdeal said, “We are delighted that eBay,a global industry leader, has chosen to invest in our company – a strong testament to the strength of our brand and business model. We are excited about partneringwith eBay and working closely with the eBay India Leadership team to grow the localmarket for the benefit of Indian consumers and merchants.”