Alibaba is not buying Snapdeal
Dec 2, 2016, 14:57 IST
Alibaba- the Chinese e-commerce site is in no mood of buying the e-commerce company Snapdeal and is not in talks to do so.
According to the reports, Alibaba is not buying Snapdeal and is not even interested in buying Snapdeal.
Earlier, reports about Alibaba buying Snapdeal surfaced and it was said that the Chinese e-commerce was buying Snapdeal for $2 billion.
Alibaba is an investor in Snapdeal, having led a $500 million funding round into the online marketplace along with Foxconn and SoftBank in August last year. Alibaba also owns 40% stake in the digital payments and commerce firm Paytm.
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According to the reports, Alibaba is not buying Snapdeal and is not even interested in buying Snapdeal.
Earlier, reports about Alibaba buying Snapdeal surfaced and it was said that the Chinese e-commerce was buying Snapdeal for $2 billion.
Alibaba is an investor in Snapdeal, having led a $500 million funding round into the online marketplace along with Foxconn and SoftBank in August last year. Alibaba also owns 40% stake in the digital payments and commerce firm Paytm.