Snapdeal to rake in the moolah? Know why!
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Chinese ecommerce giant The report also stated that the group of potential investors has already started the due-diligence process last week.
Apart from Alibaba, Taiwanese Alibaba will be joined by Taiwan's based electronics contract manufacturing company
Earlier this year, Alibaba made its first major investment in India when it signed a $550 million cheque for a strategic stake in online payment company Paytm.
Nevertheless, the report also noted that there is no clarity on the quantum of the funds that Snapdeal is likely to raise. While some have suggested that Snapdeal will raise close to $500 million, with Alibaba expected to invest close $150 billion, others have stated that the company will raise at least $1 billion of primary and secondary capital with new investors on board.
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Analysts predict that this round of funding, if implemented, will make the company second most valuable start-up at a valuation of nearly $7 billion. Interestingly, arch-rival
"Raising capital has become a permanent function for Indian ecommerce companies, and strategics are becoming preferred partners given their bigger cheque books," said Nitin Agarwal, managing director of investment bank Equirus Capital in the report.
Image Credit: Indiatimes.com
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