eBay has announced that it was leading a new $133.77 million round of funding in Snapdeal, raising its stake in the company following an initial investment made in 2013.
“Accelerating growth in India and other emerging markets continues to be a core strategy for driving eBay’s global e-commerce leadership. eBay is excited about the prospects ahead for both Snapdeal and the eBay India business,” said eBay Senior Vice-President & APAC Managing Director Jay Lee. “We continue to invest in Snapdeal due to its complementary business model, good management team and strong brand.”
“eBay’s partnership with Snapdeal will benefit Indian businesses of all sizes, consumers and local commerce,” said LatifNathani, Managing Director, eBay India.
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eBay leads a new round of funding in Snapdeal
