SnapDeal has confirmed an investment of $ 500 million led by Alibaba, Foxconn, and Softbank. Existing investors Temasek, BlackRock, Myriad and Premji Invest also participated in this round.
Importantly, this is the second investment in India and Alibaba e-commerce. The Chinese e-commerce giant has invested in the mobile market based in Noida and start Paytm digital wallet. This is also the second largest round raised by SnapDeal had previously raised $ 627 million from the Japanese giant Softbank.
SnapDeal has been in talks with Alibaba, Jack Ma, the billionaire more than six months. Before this, SnapDeal had raised more than $ 800 million through three rounds in February, August and October last year. Ratan Tata is also an investor in SnapDeal. Market leader Flipkart has raised more than $ 2.5 billion so far in venture capital funding.
Last month, the company backed by Softbank had launched a unique mobile market Shopo sell fresh and used goods. Besides this, also launched a search platform FindMyStyle.in images like. SnapDeal has an assortment of over 15 million products through more than 500 different categories sold over 1.5 lakh merchants.
Importantly, this is the second investment in India and Alibaba e-commerce. The Chinese e-commerce giant has invested in the mobile market based in Noida and start Paytm digital wallet. This is also the second largest round raised by SnapDeal had previously raised $ 627 million from the Japanese giant Softbank.
SnapDeal has been in talks with Alibaba, Jack Ma, the billionaire more than six months. Before this, SnapDeal had raised more than $ 800 million through three rounds in February, August and October last year. Ratan Tata is also an investor in SnapDeal. Market leader Flipkart has raised more than $ 2.5 billion so far in venture capital funding.
Last month, the company backed by Softbank had launched a unique mobile market Shopo sell fresh and used goods. Besides this, also launched a search platform FindMyStyle.in images like. SnapDeal has an assortment of over 15 million products through more than 500 different categories sold over 1.5 lakh merchants.
0 comments:
Post a Comment