Ratan tata invests in snapdeal

New Delhi: Former Tata Group chairman Ratan Tata has picked up a small stake in Snapdeal as the homegrown online marketplace aims to scale the $2 billion gross merchandise value (GMV) milestone by March next year. The firm on Wednesday said that Tata, who is now chairman emeritus of Tata Sons, has made a “personal investment” in the company. Snapdeal co-founder and CEO Kunal Bahl said, “Mr Tata has invested in his personal capacity. He has an immense stature and me and my team can learn a lot from him.” Mr Bahl, however, declined to comment on the investment details. Asked about the road map ahead, he said, “Going ahead, we are confident of reaching the $2 billion milestone by March 2016.”