SoftBank pays $627m for 30% stake in Snapdeal

Oct 29, 2014 • Robert Lavine

The India-based e-commerce company has now raised more than $1bn in funding, while SoftBank gears up for further large investments.

Japan-based telecommunications company SoftBank is set to invest $627m in India-based e-commerce company Snapdeal as part of a $10bn investment plan.

A source told Reuters that SoftBank is acquiring a stake of around 30% in Snapdeal, which is valued at about $2bn, and will become the company’s largest external shareholder.

“I strongly believe that Snapdeal has the potential to be like the Alibaba of India.,” SoftBank CEO Masayoshi Son said in an interview on Indian television channel CNBC, referencing the…

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