Snapdeal investment

BEIJING: Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors, including China’s Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. One of the people said the deal could be finalised within a few days at the earliest but may also take weeks. The latest round of support, from investors also including SoftBank Group Corp and Foxconn, the trading name of Hon Hai Precision Industry Co Ltd, would value Snapdeal at more than $5 billion, another person said.