Chinese ecommerce giant, Alibaba is in talks with Indian online marketplace Snapdeal, to hike its Indian footprint and may invest around US$ 500-700 million.
Last year in September, Alibaba raised $25 billion through an US IPO, the largest globally. Alibaba founder Jack Ma on a visit to India in November last, had indicated to invest more. According to media reports, talks are on between the two companies and the potential investment may range between $500 and $700 million.
Founded by Kunal Bahl in 2010, Snapdeal offers more than 50,000 sellers a platform to reach out to over 25 million users.