eBay Forms Partnership With India’s Snapdeal

eBay Inc. is looking to India to accelerate its growth.

The e-commerce giant is leading a $50 million investment in three-year-old Indian competitor Snapdeal.com that also includes a multiyear commercial partnership with the fast-growing online retailer.

The funding round, which also includes participation by Intel Corp.’s Intel Capital, Nexus Venture Partners and other firms, values Snapdeal at around $250 million, according to a person familiar with the deal terms.

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