TMCnet News
United States : SOFTBANK becomes largest stakeholder in SNAPDEAL [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Online marketplace Snapdeal.com, has secured $627 million (Rs 3,845 crore) from Japanese internet, media and telecom giant SoftBank. The investment, which closed earlier this month, marks the single largest tranche investment in an Indian e-commerce company. Delhi-based Snapdeal is owned an operated by Jasper Infotech. With the investment, SoftBank will become the major stakeholder in Snapdeal. The Indian company has raised nearly $1 billion (Rs 6,132.5 crore) in the current calendar year. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |