Homeshop18 secures funds in round two

Homeshop18 has raised Rs 85.40 crores through a follow

-up funding round with GS Home Shopping (GS), funds managed by OCP Asia and Network18. GS will invest Rs 67.10 crores, OCP Asia and Network18 will invest the remaining amount and the entire transaction is valued at Rs 2,196 crores. GS is the third largest Home Shopping company in the world and the market leader in Korea.

Network18 has retained its position as majority shareholder with 51 percent stake in Homeshop18, whereas SAIF Partners, GS Home Shopping and OCP Asia are the other existing investors in the company.

Homeshop18 launched India’s first 24 hour Home Shopping TV channel in 2008. Today, it provides an integrated virtual shopping experience on Internet, Television and Mobile apps through Homeshop18.com and the 24x7 TV channel. Since inception, Homeshop18 has acquired a customer base of over eight million. It has built an impressive portfolio of over 12 million SKUs across multiple product categories including apparel and other fashion products and a logistical reach of over 3,000 locations across India. Homeshop18 is one of India’s fastest growing virtual commerce companies with revenues having more than doubled over the last year.