Canaan Partners To Invest Rs 40 Cr In Naaptol.com
Canaan Partners plans to pick up about 25% stake in Naaptol Online Shopping Pvt Ltd for Rs 40 Cr valuing the company at Rs 160 Cr.
The VC firm plans to hike its stake in the online portal in future.
Naaptol.com will use the fund to enter into TV shopping and expansion of its logistics footprint.
Transaction Reference: ET
Naaptol Online Shopping Pvt Ltd founded by Manu Agarwal in January 2008 operates Naaptol.com.
It is a comparison based social shopping portal that enables one to search/compare/ buy products based on certain attributes/models.
At present, the portal registers 3,000 transactions a day and sells 500 brands.
In July 2008, the company had received funding from BCCL.
A similar portal CompareIndia.com was acquired by Web18 in 2006. Another player in this space is Pricesbolo.com, owned by Bangalore-based Pricesbolo e-Services [India] Pvt.Ltd.
Canaan Partners invests in technology and healthcare companies. It has invested in e-commerce website Bharat Matrimony and entertainment website Chakpak Media.
In 2009, the fund had invested in mCarbon, a Delhi-based mobile value-added services company.
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KVEZAR VIEW
DEAL TRACKER FOR
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 01/10/11 | Naaptol Online - NEA | Private Equity | New Enterprise Associates | 50.00 |
| 10/05/11 | Naaptol - Fund Raising | Venture Capital | 25.00 | |
| 05/08/10 | Naaptol.com - Canaan Partners | Venture Capital | Canaan Partners | 8.60 |
| 25/07/08 | Naaptol Online - Bennett Coleman & | Private Equity | Bennett Coleman & Co. Limited | - |
Recent Transactions In The Sector
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Agni Property Services Private Limited | Looking For | - | Planned |
| 02/02/12 | M&A | Persistent Systems Limited | Location business | - | Completed |
| 31/01/12 | Private Equity | Tiger Global Management LLC | Flipkart Online Services Private Limited | 150.00 | Completed |
| 31/01/12 | M&A | Dell Inc | Looking For | 1007.05 | Planned |
Profiles
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Canaan Partners | IT/ITES/Technology Healthcare |
www.canaan.com/home/india/ | Deepak KamraAnirudh SinghHarish GandhiAlok MittalNishant Verman | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Naaptol Online Shopping Private Limited | Manu Agarwal | Unit 418, Building 2, Sector 1 Millennium Business Park, Mahape Navi Mumbai - 400710 India |
Emmosys Technologies Private Limited Web18 Software Services Limited Chaupaati Bazaar Private Limited |
www.naaptol.com |
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| 3 | August 05, 2010 01:21 PM |
Pricesbolo
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