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SoftBank-Backed Snapdeal Weighs $400 Million Mumbai IPO
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SoftBank-Backed Snapdeal Weighs $400 Million Mumbai IPO
- Indian e-commerce retailer Snapdeal Pvt is considering an initial public offering that could raise about $400 million, joining a growing list of startups preparing to tap capital markets as the nation’s digital economy booms.
- Representatives for Snapdeal and SoftBank declined to comment.
- Four years ago, Snapdeal walked away from a potential merger with Flipkart, which would have united the two local-e-commerce companies against Amazon.
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Xi says China to set up Beijing stock exchange for SMEs
- China’s President Xi Jinping on Thursday said the country would set up a stock exchange in its capital, Beijing, to serve small and medium-sized enterprises.
- Reuters reported in March that China was considering establishing a bourse to attract overseas-listed companies and bolster the global status of its onshore share markets, citing sources with knowledge of the matter.
- China’s securities regulator said setting up a Beijing stock exchange would help deepen financial supply-side structural reforms and improve capital market systems.
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Amazon Pay UPI reaches 50 million customer milestone
- E-commerce giant Amazon on Friday said that 50 million customers are now using its Amazon Pay UPI services.
- According to the company, customers are using the Amazon app to pay at 20 million local shops using the UPI QR code option.
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