eBay makes $133.7 mln investment in Indian shopping site Snapdeal
eBay has invested 133.77 million dollars in Snapdeal, one of the larger online marketplaces in India.
The move follows a previous investment made by eBay in the company last year.
According to TechCrunch, in a statement, eBay Senior Vice President and APAC Managing Director Jay Lee said accelerating growth in India and other emerging markets continues to be a core strategy for driving eBay’s global e-commerce leadership.
They said eBay was excited about the prospects ahead for both Snapdeal and the eBay India business.