Snapdeal Raises $500 Million Funding

Snapdeal, an India-based e-commerce startup, has raised $500 million funding from Alibaba, Foxconn and SoftBank. Since its inception in 2010, Snapdeal has raised over $1 billion from foreign investors/VC firms. Currently, Snapdeal is competing against Flipkart and Amazon. This new investment gives Alibaba a foothold in India--a country that is becoming the center of world e-commerce.
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