SoftBank could invest $50m to $60m in e-commerce marketplace Snapdeal to lead a round that could possibly stretch to $100m.
Internet and telecommunications conglomerate SoftBank has entered discussions to lead a $100m funding round for India-based e-commerce company Snapdeal, MoneyControl reported yesterday.
A group of unidentified US and China-based investors have also expressed interest in participating in the round, sources familiar with the matter told the publication. SoftBank is expected to invest between $50m and $60m.
Founded in 2010, Snapdeal operates an online store that sells a wide range of products, such as clothing, jewellery, furniture, appliances, televisions and smartphones.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
