new delhi snapdeal on tuesday said piramal group executive director anand piramal has made an investment in the ecommerce company the investment has been made by piramal in his personal capacity snapdeal said in a statement however details of the investment and the valuation of snapdeal post the transaction were not disclosed anands investment comes as a significant endorsement for snapdeal and the transformation the company has undergone over the last couple of years snapdeal cofounder and ceo kunal bahl said his appreciation for what it takes to build a company with growing revenues with good economics in a competitive market comes from his own experiences of building and operating large companies in competitive sectors like real estate and financial services he added snapdeal which at its peak was valued at 65 billion around 2016 had raised funding from giants like softbank chinese ecommerce giant alibaba and canadian pension fund ontario teachers pension plan otpp however it started losing market share to flipkart and amazon india as the rivals started pumping in millions of dollars to strengthen their position in the burgeoning indian ecommerce market in 2017 softbank tried to orchestrate a merger between snapdeal and flipkart snapdeal however dumped the 950million takeover offer from flipkart and instead decided to pursue a fresh strategy snapdeal 20 in the indian market this strategy has helped snapdeal narrow down its consolidated losses substantially over the last two years to rs 186 crore in 201819 from rs 46471 crore in 201617 the company has also been able to grow its revenues to rs 9253 crore in the last fiscal as compared to rs 5359 crore in 201718 snapdeals sharp execution in bringing great selection to the mass market segment in tierii and iii cities has been quite successful leveraging the growing internet penetration in these geographies anand piramal said since 2017 snapdeals revenues have grown rapidly with profitable unit economics with hundreds of millions of first time ecommerce buyers yet to transact snapdeal is well poised to grow in the future he added the company has sharpened its focus on the needs of the valueconscious buyers in india during the last two years snapdeal said more than 80 per cent of its users come from the small towns and cities of india this market of nearly 400 million potential buyers is the fastest growing segment in indian ecommerce it added in the last two years snapdeal has added over 60000 new seller partners and it now has more than five lakh registered sellers on its marketplace