Snapdeal Raises Massive Round, Adds $2B to Valuation
August 04, 2015
On the heels of Flipkart's $700 million financing, ecommerce competitor Snapdeal has raised its own massive round, grabbing a reported $500 million at a valuation of $5 billion. Investors in the round, which adds $2 billion to the valuation garnered in a 2014 $627 million deal, include online retail giant Alibaba (NYSE: BABA), Foxconn and SoftBank. Snapdeal is said to be looking to spend up to $200 million over the next year to expand its delivery operations.