Aug
03
India’s Snapdeal Said to Draw $500 Million From Alibaba, Foxconn
ByIndian e-commerce company Snapdeal.com is raising about $500 million from investors led byALIBABA GROUP Holding Ltd., according to people familiar with the matter.
The investment will value New Delhi-based Snapdeal at about $5 billion and include Foxconn Technology Group, said one of the people, who asked not to be named because the matter is private.ALIBABA and Foxconn are each investing about $200 million, two of the people said.
SoftBank Group, an existing investor, may also participate in the latest funding round, one of the people said…
India’s Snapdeal Said to Draw $500 Million From Alibaba, Foxconn