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Alibaba, Foxconn invest in Snapdeal, Ebay sells shares

Tuesday 18 August 2015 | 14:57 CET | News
Snapdeal announced an investment of USD 500 million from Alibaba Group and Foxconn Technology. While Snapdeal did not specify the split of the investments, Foxconn unit FIH Mobile said it would invest USD 150 million. Existing investors SoftBank, Temasek and BlackRock also participated in the round, which values Snapdeal at USD 4.7 billion. FIH Mobile separately announced the purchase of a USD 50 million stake in Snapdeal from EBay. On completion of the two transactions, FIH Mobile will own 4.27 percent of the Indian company. Ebay announced that it sold part of its stake in e-commerce portal

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Categories: Internet
Companies: Alibaba / Ebay / Foxconn / Snapdeal / Softbank
Countries: India
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