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India's Snapdeal Raises $200 Million Led By Ontario Teachers' Pension Plan

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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Commuters sit at a bus stop adorned with an advertisement of Indian online marketplace Snapdeal featuring Bollywood actor Aamir Khan, in Bengaluru, IndiaMUMBAI (Reuters) - Indian online marketplace Snapdeal has raised $200 million in a fresh funding round led by Canada's Ontario Teachers' Pension Plan, the company said. The latest fund-raising follows $500 million raised last August in a round led by Alibaba Group Holding , SoftBank Group Corp and Foxconn . The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, from an expected $11 billion this year, Bank of America Merrill Lynch said in a recent report. (Reporting by Himank Sharma; Editing by Gopakumar Warrier)




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