The e-commerce firm led rounds for Snapdeal totalling $184m in 2013 and 2014, but has written off $61m of its investment according to a financial report.
E-commerce firm eBay has written off $61m of its investment in India-based online marketplace Snapdeal, according to its 2017 full-year fiscal report.
Snapdeal operates an e-commerce platform that sells a wide range of consumer items including clothing, electronics and appliances.
Once a competitor with compatriot Flipkart as well as US-based Amazon, the company’s market share fell behind and it was on the verge of being acquired by Flipkart in 2017 before pulling back from the deal in July.
The company…
