eBay, the global online marketing giant has announced huge 133.7 million USD investment in India’s online marketing major Snapdeal. eBay has been an investor in Snapdeal since a while. Continuing with its belief in Indian online market, eBay has decided to accelerate its plans here, say sources. eBay had invested 50 million USD in Snapdeal in 2013. Though there was talk of complete buyout by eBay, the company for now is staying a friendly investor only.
Emerging markets like India are hopes of future for international companies like eBay which are feeling saturated in the West. The similar business plan, complementary distribution model and strong management are the reasons for this continuing friendship, said eBay sources.