eBay on Wednesday announced it was leading a $134 million investment in Snapdeal, which claims to be India’s largest e-commerce marketplace. eBay’s first investment in Snapdeal came in mid-2013, when it poured $50 million into the company. Snapdeal merited additional financing because of its complementary business model and strong overall brand, eBay said. The funds will go toward helping Snapdeal accelerate its growth. The Indian market is now comprised of 200 million Internet users and 140 million mobile Internet users.
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eBay Places Heavy Bet on Snapdeal
Posted by: Rachelle Dragani February 27, 2014 03:03 PMeBay on Wednesday announced it was leading a $134 million investment in Snapdeal, which claims to be India’s largest e-commerce marketplace. eBay’s first investment in Snapdeal came in mid-2013, when it poured $50 million into the company. Snapdeal merited additional financing because of its complementary business model and strong overall brand, eBay said. The funds will go toward helping Snapdeal accelerate its growth. The Indian market is now comprised of 200 million Internet users and 140 million mobile Internet users.