HomeShop18 raises Rs 163 crore in third round of funding

The current transaction values HomeShop18 at $330 million
Comment E-mail Print Share
First Published: Sat, Apr 13 2013. 12 45 AM IST
Network18 will remain the majority shareholder in HomeShop18. OCP Asia’s owns a 10% stake. Photo: Mint
Network18 will remain the majority shareholder in HomeShop18. OCP Asia’s owns a 10% stake. Photo: Mint
New Delhi: E-commerce company HomeShop18, operated by Network18, has raised a total of $30 million (around Rs.163 crore) from hedge fund OCP Asia, and Network18. OCP and Network18 contributed $15 million each, the company said in a statement on Thursday.
This is HomeShop18’s third round of funding. In 2008, it raised $16 million from SAIF Partners and an additional $5 million from Capital18. In the following year, South Korea’s GS Shopping paid $18.5 million for a 15% stake in the company.
The current transaction values HomeShop18 at $330 million. Network18 will remain the majority shareholder in HomeShop18. OCP Asia’s owns a 10% stake.
“We will channelize these funds in increasing both the IT as well as logistics infrastructure as well as active consumer engagement,” said Sundeep Malhotra, chief executive, HomeShop18. Started in 2008, HomeShop18 launched India’s first 24-hour home shopping television channel. In 2011, it ventured into e-commerce.
Comment E-mail Print Share
First Published: Sat, Apr 13 2013. 12 45 AM IST
blog comments powered by Disqus
  • Wed, Oct 29 2014. 04 15 PM
  • Wed, Oct 22 2014. 09 49 PM
Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved