Snapdeal receives $627M in funding from SoftBank

Snapdeal, one of the three largest e-commerce sites in India along with Amazon and Flipkart, has secured $627 million in funding from SoftBank. The Japanese investment company also gave $210 million to taxi app and Uber competitor Ola Cabs. As the largest shareholder in Alibaba, SoftBank hopes to mimic its Chinese e-commerce success in the Indian market. Story