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Snapdeal is looking to raise $100M from SoftBank & other investors

Snapdeal is looking to raise $100M from SoftBank & other investors

Wednesday, April 5, 2017, 10:11 AM

Indian online retailer Snapdeal is looking to raise just over $100 million from existing shareholders including Japan's SoftBank and new investors, its chief financial officer said. The company, which last year lost its second place in India's fiercely competitive online retail market to Amazon.com, aims to become profitable in two years but faces falling cash reserves.
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