Snapdeal connects merchants and buyers selling everything from mobile phones to cars and houses.
For Alibaba, an investment in Snapdeal could speed up the Chinese company’s expansion in India’s booming electronic-commerce market as more Indians go online to shop for clothes, accessories, books and electronics.
For Foxconn, an investment in Snapdeal would give the contract electronics maker a retail foothold in India, where it has experienced booming demand for smartphones.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now