Alibaba is rumoured to be considering an investment in Snapdeal as the Indian online marketplace seeks $1bn in its latest funding round.
Reuters sources have backed multiple reports from Indian media claiming that the two companies are in “ongoing” talks. Investor interest in supposedly “high”, but a deal has yet to be reached.
While a deal would be Alibaba’s first direct investment in India, the e-commerce giant has shown increasing interest in its neighbouring Asian market. Its affiliate company Ant Financial bought a 25 per cent stake in Indian mobile wallet Paytm last month.
Snapdeal is reported to be seeking $1 billion in its latest funding round to fuel growth. The online marketplace won a $627 million investment from Softbank in October. The Japanese bank was also an early backer of Alibaba.
The company competes with e-commerce rivals Flipkart and Amazon in India.
Just 31% of Brits know who's on the back of the new £5 polymer banknote, says new research from Barclays, which also found that the number of cash users continues to drop as people prefer using more digital methods of payments.
Nine out of ten consumers use their smartphones more than any other device, and consumers would also prefer to use biometrics over PINs - with fingerprints being the preferred method, according to a new Mastercard survey.
Metromile has just landed nearly $200m in Series D funding for its auto insurance payments platform.
It's banks, not government agencies, that the British people trust to deliver biometric authentication payment services, says a new Visa study.