Snapdeal on Ratan Tata’s list for investment

Mumbai: Ratan Tata, who needs no introduction, is considering a personal investment in the well-known e-commerce online retail website, Snapdeal.

According to media reports, 76-year-old Tata is said to be buying out an early Snapdeal investor through a secondary sale. Presently, Snapdeal is tight-lipped about the deal and has not commented on the subject.

Bangalore-based Flipkart is presently one of the leading e-commerce shopping website in India, and has declared war with Amazon, who is trying to gain the lead position in India. The recent news about Flipkart investing a whopping $1 billion triggered Amazon to invest $2 billion in the country. Snapdeal tends to gain points with business tycoons such as Ratan Tata investing in the four-year-old firm, run by two 32-year-olds, Kunal Bahl and Rohit Bansal.