Alibaba to give up investment in ndia electricity supplier Snapdeal

[Abstract] informed sources said that the Alibaba has possible investment with Snapdeal consultations, but the content of negotiations did not include previous India’s "economic times" reported $1 billion in financing, Alibaba will not immediately consider investment Snapdeal.

Re/code Chinese station March 18th

India is one of the most popular e-commerce market, but according to informed sources, Alibaba has abandoned plans to invest in India online shopping startups Snapdeal.

, the person said, the Alibaba could have investment with Snapdeal consultations, but the content of negotiations did not include previous India’s "economic times" reported $1 billion in financing, Alibaba will not immediately consider investment Snapdeal.

Representatives from both companies declined to comment on the

.

India is the second largest country in the world after China, India’s smartphone usage continues to rise, the rapid development of online shopping market. Snapdeal and another online shopping start-up company Flipkart have received $1 billion financing aimed at fighting off amazon. Amazon launched its shopping site in India station in 2013, Amazon announced plans $2 billion investment in its business in India.

The investment of eBay

Snapdeal a year ago, and later won a $600 million investment in softbank. Although eBay and Amazon have carried out a large-scale investment in the India market, but Snapdeal CEO Kunal Bahl previously said India’s e-commerce development behind China six or seven years. After giving up investment Snapdeal, Alibaba still have time to consider other ways to enter the India market. (wing fly)

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