 "Intel invests $16 million in Snapdeal and two other e-commerce websites")
In order to expand its business interests across Asia, Intel Capital has reportedly invested $16 million in three e-commerce websites from that region. The Investment and M&A Organisation arm of Intel said on Friday that it was investing in Indian websites Bright Lifecare and Snapdeal as well as a Singaporean private luxury goods retailer, Reebonz.
Bright Lifecare deals with the Indian consumer health side. The company concerns itself with the distribution of nutrition and health products. It also operates
HealthKartPlus, which is an e-pharmacy network. Intel is looking to increase the site’s reach through mobile applications as well as web products.
Snapdeal deals with the other side of the consumer spectrum and stands as an online marketplace in India. The range that Snapdeal deals with includes categories like fashion, electronics as well as home goods. According to the statement, Snapdeal has 20 million registered users across 4000+ towns and cities in India ,which Intel Capital wants to expand on.
Snapdeal is one of three companies that Intel has pumped $16 million into
When asked about the deal, Gregory Bryant, Vice President and General Manager of Intel Asia-Pacific, said, “We see startup companies across Asia-Pacific taking advantage of new business opportunities created by the spread of personal computing and broadband Internet access.”
According to the statement, Intel has been pumping in funding into the Asia-Pacific using its investment arm for the last 15 years. Overall, the company has invested more than $2 billion to cover more than 320 technological companies dealing with a variety of products and services including mobile computing, consumer Internet, cloud computing as well as software and services.
Other industries that Intel has invested in include semiconductor design and manufacturing. The company believes that investment into these kinds of companies will aid entrepreneurs get into new markets and approach customers, as well as offer new services for people across Asia.
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