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Foxconn, Alibaba in talks to invest in Snapdeal

Reports say Foxconn chairman Terry Gou convinced Alibaba chairman Jack Ma that it made sense to invest together rather than separately in Snapdeal.

business Updated: Jun 17, 2015 09:09 IST

India’s second largest e-commerce firm Snapdeal is in talks with Taiwan-based phone parts supplier Foxconn Technology Group and Chinese e-commerce giant Alibaba Group Holding Ltd to raise money, two people familiar with the development said.

Foxconn and Alibaba have held talks to invest in Snapdeal but no deal has been finalized yet, the two people cited above said. They declined to be named as they are not authorized to speak publicly on the issue.

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First Published: Jun 17, 2015 08:26 IST