Position of strength: Snapdeal is shoring up its position as India's dominant online marketplace with significant investments from three foreign companies.
MUMBAI/TAIPEI: China's Alibaba Group Holding, Japan's SoftBank Group Corp and Foxconn will lead an investment of US$500mil (RM2.04bil) in India's Snapdeal, the online marketplace said, as it seeks to expand in the country's fast growing e-commerce sector.
The move is a vote of confidence from three of the world's biggest technology companies in Snapdeal, which in October got a US$627mil (RM2.56bil) investment from SoftBank, also an early backer of Alibaba.
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