Online market Snapdeal is all set to raise $500 million in investment from Alibaba Group Holding Ltd, Softbank Group Corporation and Foxconn, a person familiar with the matter said.
The person, who declined to say how much Snapdeal would be valued after the investment, said the deal could be finalised within a few days at the earliest though it may also take weeks.
Online tech journal Re/code first reported the investment on Sunday citing multiple sources, saying the deal had already concluded.
The move is a show of faith from three of Asia’s – and the world’s – biggest technology companies in the fast-growing online market. read morehttp://www.vishwagujarat.com/business/report-says-snapdeal-to-raise-500-million-to-be-raised-from-alibaba-softbank-foxconn/
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