EBay Beats Out Amazon To Lead $50M Round In India's E-Commerce Giant Snapdeal To Build Up Its BRIC Business

Online e-commerce giant eBay last week said that it expects to have 12% of its sales coming from BRIC countries by 2015 in an global e-commerce market that will be worth $300 billion, and here is one more step in that strategy: it is leading a $50 million, Series C investment in Snapdeal, an online marketplace in India with 20 million users. Existing backers Nexus Venture Partners, Bessemer Venture Partners and IndoUS Venture Partners also participated.

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