Snapdea has raised $500mn from Alibaba, Softbank And Foxconn*. This funding round has been rumored for some time and has been delayed due to valuation differences.
What’s important to note is that Alibaba has also invested in Paytm (Paytm is heavily focused on the travel marketplace). Competitor Flipkart recently raised $700mn.
Really big day for the entire team @snapdeal. Now I know how Pepper the Robot felt 🙂 #feelingawesome pic.twitter.com/0X09rX6EuR
— Kunal Bahl (@1kunalbahl) August 18, 2015
Meanwhile, ebay is selling parts of its Snapdeal stake to focus on India operations.
*: More details as we get them.