eBay has made another investment into its India-based counterpart, the online marketplace Snapdeal, this time leading a $134 million funding round into the growing e-commerce site.
eBay, the San Jose-based tech company and ecommerce marketplace, has been steadily growing its presence in the BRIC nations — Brazil, Russia, India and China — as the Web, mobile devices and consumer appetite of online shopping have grown in those emerging markets.
“Accelerating growth in India and other emerging markets continues to be a core strategy for driving eBay’s global e-commerce leadership,” eBay Senior Vice President Jay Lee said in a news release.
Snapdeal was launched in 2010 — 15 years after eBay — and today is the largest online marketplace in India. The site has about 20,000 sellers, 500 product categories and offers everything from hair accessories to online education software and vitamin supplements.
eBay’s invested about $50 million in Snapdeal in 2013, about the same time that with Amazon launched its Indian website. eBay also has an online marketplace in India, with about 30,000 sellers and 2,000 categories of products.