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Snapdeal to raise $600-$650 mn investment

Mumbai: Indian online retailer Snapdeal is close to raising $600 million to $650 million from existing investors, led by Japan's SoftBank Corp, to expand operations, three people involved in the fundraising said.The amount, set to

India TV News Desk [ Updated: October 15, 2014 12:08 IST ]
snapdeal to raise 600 650 mn investment
snapdeal to raise 600 650 mn investment

Mumbai: Indian online retailer Snapdeal is close to raising $600 million to $650 million from existing investors, led by Japan's SoftBank Corp, to expand operations, three people involved in the fundraising said.

The amount, set to be the biggest investment in India's growing e-commerce sector after Flipkart raised $1 billion in July.

Besides SoftBank, Snapdeal's other investors include eBay Inc, Temasek Holdings Pvt Ltd and Ratan Tata, the former chairman of the Tata conglomerate.

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