India's Snapdeal to invest up to $200 million to improve deliveries

[March 17, 2015] (Reuters) - Ecommerce company Snapdeal.com will invest $150 million-$200 million to strengthen its delivery network in the next financial year, an executive said.

The SoftBank backed company had invested in a minority stake in logistics company GoJavas, Rohit Bansal, co-founder of Snapdeal, said on Tuesday. He did not say how much the investment was worth.

Getting logistics and deliveries in place is a critical requirement for companies like Snapdeal, Flipkart and Amazon's India unit as they fight to win over the country's 300 million-strong urban middle class, who have come to expect free deliveries and returns as well as great deals on everything from clothes to car accessories.

(Reporting by Tommy Wilkes in New Delhi, writing by Nivedita Bhattacharjee in Mumbai; Editing by Gopakumar Warrier)

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